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 managerand responsible for marketing direct financial guaranty products to institutionalinvestors. Quinn was also assistant vice president in the municipal underwritingdepartment for Enhance Financial Services Group, which was acquired by Radian Group Inc.in 2001. His responsibilities included deal origination, credit analysis, and pricingtransactions.
Quinn, who received a bachelor's degree from Fordham University, will be integral inserving 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 inmaintaining daily contact with market participants, Fried said.
XL Capital recently hired John S. Williams as a managing director in its credit riskmanagement group. In his newly created position, Williams concentrates on public financeand reports to managing director of structured single risk credit, Drew Hoffman.
Williams joins XLCA from Radian Asset Assurance, where he managed the municipalunderwriting team as senior vice president of public finance. Before Radian, Williamswas a vice president at Credit Local de France and an associate at J.P. MorganSecurities. Williams began his nearly two decades of work in public finance at Moody'sInvestors Service.
In a statement, chief credit officer Patrick Mathis said, "XLCA continues to grow, andwe are pleased with the market's strong reception to our guarantee in the U.S. publicfinance market. We are delighted that John Williams has joined our credit riskmanagement group to help us deliver the exceptional service our clients expect fromXLCA."
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 were offered wonderful opportunities for advancement and I'm very happy for them."
