CIFG Holdings Ltd., parent of monoline bond insurer CIFG Guaranty, Monday took a step toward addressing concerns about its financial guaranty business, naming Richard Price as non-executive chairman responsible for building the franchise and developing a long-term business strategy.

Price comes to CIFG from Zurich Financial Services, where he served as chief executive officer of the wholly-owned subsidiaries Zurich Capital Markets and Central Re. In addition, he has held a number of senior positions at financial guaranty firms, including monoline bond insurer Financial Guaranty Insurance Co. and CGA Group, a Bermuna-based financial guarantor.

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