Emerging Markets Expert Leaves FGIC

Eric Rosensweig has left his post as managing director of FGIC, where he focused on future flow deals from the emerging markets, according to a knowledgeable source. On his watch, the agency wrapped deals backed by diversified payment rights originated by such Turkish banks as Vakifbank, Akbank and HSBC Turkey, and by Kazakhstan's Kazkommertsbank. Rosensweig joined FGIC in June 2005 from MBIA, where he had been instrumental in building up the agency's future flows portfolio. No word yet on whether he has been replaced.