Assured Guaranty named Nicholas Proud senior managing director, international. He will head the company’s international credit enhancement business.
Proud will report directly to Sean McCarthy, Chief Operating Officer of Assured Guaranty.
“I am excited to take on this additional responsibility,” said Proud. “As the only highly rated, long-standing financial guaranty companies writing new business today, I believe we have strong opportunities ahead and a great team to serve the markets.”
Proud headed Assured Guaranty’s European structured finance business for the past eight years and has 18 years of experience in European structured finance.
He succeeds Philippe Tromp, who headed Assured Guaranty (Europe0, formerly Financial Security Assurance (U.K.) for over 15 years.
Senior managers on the international team are Dominic J.B. Nathan, managing director, European infrastructure and Craig Lee, managing director, head of Asia-Pacific.
Proud joined Assured Guaranty from QBE Insurance & Reinsurance (Europe) in January 2001, where he was a director and senior underwriter in its financial risks operations.
Before that, he was executive director of the structured financial risks division of Special Risk Services, a financial products reinsurance broker.