Municipal bond insurers Financial Guaranty Insurance Co. and XL Capital Assurance Inc. recently announced some key hires.
Earlier this month FGIC hired Michael Quinn as vice president of secondary markets.
Quinn joins FGIC from Radian Asset Assurance, where he was a secondary market manager and responsible for marketing direct financial guaranty products to institutional investors. Quinn was also assistant vice president in the municipal underwriting department for Enhance Financial Services Group, which was acquired by Radian Group Inc. in 2001. His responsibilities included deal origination, credit analysis, and pricing transactions.
Quinn, who received a bachelor's degree from Fordham University, will be integral in serving FGIC's secondary market clients, according to a statement from Jeffrey Fried, senior managing director and head of public finance. Quinn also has a vital role in maintaining daily contact with market participants, Fried said.
XL Capital recently hired John S. Williams as a managing director in its credit risk management group. In his newly created position, Williams concentrates on public finance and reports to managing director of structured single risk credit, Drew Hoffman.
Williams joins XLCA from Radian Asset Assurance, where he managed the municipal underwriting team as senior vice president of public finance. Before Radian, Williams was a vice president at Credit Local de France and an associate at J.P. Morgan Securities. Williams began his nearly two decades of work in public finance at Moody's Investors Service.
In a statement, chief credit officer Patrick Mathis said, "XLCA continues to grow, and we are pleased with the market's strong reception to our guarantee in the U.S. public finance market. We are delighted that John Williams has joined our credit risk management group to help us deliver the exceptional service our clients expect from XLCA."
As for Radian, Tino Kamarck, president of Radian Asset Assurance and Radian Reinsurance, said: "We're sorry to see John and Mike go, but they wonderful opportunities for advancement and he's very happy for them."
