ACA Financial Guaranty Corp. has hired industry veteran Steven Berkowitz as its new general counsel, the company announced earlier this week.
Berkowitz has worked the past 16 years at Financial Security Assurance Inc., most recently as a managing director in the asset finance group. He has also worked in FSA's municipal structured finance group and its legal department.
Before that, Berkowitz worked as an associate in the public finance department of Mudge Rose Guthrie Alexander & Ferdon. He has a bachelor's degree from the State University of New York at Albany and his JD from the State University of New York at Buffalo School of Law.
ACA is currently operating in run-off, focusing on monitoring its remaining insured portfolio of about $7 billion. Regulators from Maryland approved the restructuring plan in August.
"We are excited to welcome such a seasoned professional to our executive team," Raymond J. Brooks Jr., chief executive officer of ACA, said in a statement. "With Steven's extensive industry background and knowledge of the specific legal matters affecting financial guarantors, we are well positioned to move forward in this new phase for the company."
