FGIC Names Watson Managing Director-London Office

June 24, 2004

Financial Guaranty Insurance Company (FGIC) announced that Rick Watson has been appointed Managing Director-Structured Finance in the company’s London office, effective June 22.

Before joining FGIC, Watson headed ABS and CDOs, Structured Capital Markets, at HSBC Bank in London. He was responsible for all pan-European origination and structuring of ABS and CDOs for financial institution clients. He formerly served as a Managing Director for Bear, Stearns International Limited where he led the business planning, origination and execution of securitization products in Europe.

Watson’s extensive career in the ABS market includes tenures as Executive Director, European Asset Backed Finance at UBS Limited and Vice President, Asset Backed Securities, at Morgan Stanley & Co. in New York. He is currently co-chair of the European Securitisation Forum’s Basel II Legal and Regulatory Subcommittee.

He received his BA in Accounting from Grove City College, Pennsylvania and his MBA in Finance from the Fuqua School of Business at Duke University.

Commenting on the appointment, Tim Travers, Senior Managing Director and head of International Finance at FGIC noted, “Rick is well-known and well-respected in the asset-backed markets, particularly in Europe. His experience and contacts will ensure FGIC’s success in the European structured finance market.”

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