MBIA Insurance Corp., the U.S. company that provides financial guarantees for asset securitizations as well as project finance, announced recently that it is to move its global marketing effort from the U.S. to London. The firm's vice chairman, John Caouette, will move to London to head its operations in the international markets.
The monoline believes that its main opportunities for growth lie in the international markets, particularly Europe. ""The forces currently at work in Europe - globalization, privatization, and the Euro - are extremely favorable for our business, and we see strong opportunities for us in collateralized debt obligations, asset securitizations and infrastructure financing," said Caouette.
Caouette also predicted that both the Latin American and Asian markets would offer MBIA good prospects for growth.