To crack the U.S. ABS market, French conglomerate Group Caisse des Depots' newly established monoline arm CDC IXIS Financial Guaranty (CIFG) has hired Jeremy Reifsnyder from MBIA to lead the U.S. structured finance initiative.

A group head at a top-five ABS investment bank commented that, in the monoline asset-backed community, Reifsnyder is "as good as it gets." The move is expected to establish the well-capitalized CIFG as a triple-A to be reckoned with, a source familiar with the situation added.

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