NEW YORK, Aug. 29 /PRNewswire-FirstCall/ -- Radian Asset Assurance Inc., a
leading provider of asset-backed securities and structured transactions,
municipal bond insurance and financial guaranty services, today announced that
it has appointed Jack Praschnik as senior vice president and head of its
global structured products group. In addition to group management
responsibilities, Mr. Praschnik will evaluate strategies for the continued
growth of the structured finance business while delivering credit enhancement
for asset-backed securities and other structured transactions to the global
capital markets.
Since 2003, Mr. Praschnik had been senior vice president, head of global
strategies at Radian, where he developed new business opportunities and
directed the research and analysis of capital markets for the company's
financial guaranty businesses. He will continue to manage this function in
his new position.
Mr. Praschnik's previous experience includes over 14 years developing and
leading risk management and strategic planning groups, creating risk
management policy and analyzing economic risk. He spent several years at MBIA
Insurance Corp. as managing director, portfolio risk management where he was
responsible for measuring and managing the risk of MBIA's insured portfolio.
"Jack's deep understanding of our business and the overall marketplace is
truly an asset to Radian," said Steve Cooke, president, Radian Asset Assurance
Inc. "His previous experience will be of great value in his new role as we
evaluate strategies for growth in structured finance as well as bolster our
existing product offerings."
Dr. Praschnik began his career as an assistant professor of economics at
the University of Western Ontario. He received a Ph.D. in economics from the
University of Florida, an MA in economics from Brown University, and a BA in
economics from the University of South Florida.
About Radian Asset Assurance Inc.
Radian Asset Assurance Inc. is a financial guaranty subsidiary of Radian
Group Inc. (NYSE: RDN), a global credit enhancement company headquartered in
Philadelphia. With offices in New York City and London, Radian Asset
Assurance is a direct writer of municipal bond insurance and insurance of
asset-backed securities and structured transactions, which extend insurance
benefits to an array of institutions and securities issuers. Additional
information may be found at http://www.radian.biz.
SOURCE Radian Group Inc.
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Related links:
http://www.radian.biz
CONTACT:
For investors: Mona Zeehandelaar,
+1-215-231-1674, mona.zeehandelaar@radian.biz, or For the media:
Corporate Communications, +1-888 NEWS 520 (+1-888-639-7520),
media@radian.biz, both of Radian Group
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