FGIC Corp., the parent company of Financial Guaranty Insurance Co. has hired Derek Donnelly as director in structured finance. Donnelly will focus on commercial asset-backed securities. Before joining FGIC, Donnelly was a vice president, capital market services, at GE Capital Corp. In this role, he provided structural and valuation analysis for GE Consumer Finance acquisitions and business development opportunities related to mortgages, auto loans, student loans, and credit cards. Before this, Donnelly had a 10-year stint in investment banking at JPMorgan Securities. For several years, as part of the global transportation group, he focused on M&A advisory work, as well as structured finance, public debt underwriting and syndicated loans. Donnelly will report to Kenneth Degen, managing director and head of the commercial asset-backed group at FGIC.
CIT Group appointed Joseph Nemia as executive vice president and chief sales officer of CIT Corporate Finance, which provides financing solutions and advisory services to CIT's mid-market clientele. In the newly created post, Nemia will work closely with the heads of business capital, diversified industries and global sponsor finance to improve performance and achieve critical growth. Nemia was previously at GE Commercial Finance holding various leadership positions, most recently as a senior managing director and head of GE Specialty Finance, where he led corporate lending's restructuring, retail and transportation efforts while building new project finance and securitization business lines.