In a bid to drum up business in future-flow deals out of Emerging Markets, Financial Guaranty Insurance Co. has poached Eric Rosensweig from rival MBIA, according to well-placed sources. He joined the guarantor as managing director of international finance, responsible for opportunities in emerging markets and Canada. The move took effect June 8, according to a news release.
Rosensweig spent seven years at MBIA, leaving his position as managing director of global corporate structured finance. On his watch, the agency conducted a brisk business in emerging market future flow deals, especially export and bank transactions from Brazil and bank deals out of Turkey. Before MBIA, Rosensweig worked at CapMac, where he dealt with future flow deals, primarily from Latin America, and managed the company's conduits. CapMac later merged with MBIA.