PURCHASE, N.Y.--(BUSINESS WIRE)--
MBIA Inc. (NYSE:MBI) (the Company) today announced that Francis Y.
“Frank” Chin (66) was elected to the Company’s Board of Directors, in
accordance with the Board’s power under the Company’s by-laws to fill
interim vacancies. Since September 2015, Mr. Chin has been a Managing
Director and Co-Founder of American Public Infrastructure, LLC, where he
advises clients on infrastructure projects.
From May of 1993 until August 2015, Mr. Chin held several positions at
Citigroup, including Chairman of the Public Finance Department, Co-Head
of the Public Finance Department, and Head of the Public Finance
Department. Mr. Chin was a member of the Board of Directors of The Bond
Markets Association, including serving as Chairman of the Municipal
Division in 2002, and as Vice Chairman in 2001. From 2005 - 2008, Mr.
Chin served as a member of the Municipal Securities Rulemaking Board,
including as its Chairman in 2008, and during which time he presided
over the launch of its Electronic Municipal Market Access (EMMA) online
application.
“We are very pleased that Frank has joined the Board, bringing
additional public finance knowledge,” said Charles Rinehart, Chairman of
the MBIA Inc. Board of Directors. “He is a recognized and accomplished
leader in the U.S. public finance market and his knowledge and
experience will significantly benefit National Public Finance Guarantee
Corporation, our U.S. public finance insurance subsidiary.”
Mr. Chin earned his MBA degree from Harvard Graduate School of Business
Administration in 1978. He earned an M.S. degree in Civil Engineering
from the Massachusetts Institute of Technology in 1973 and a B.S. degree
from the Cooper Union for the Advancement of Science and Art in 1971.
In 2013, The Municipal Forum of New York honored Mr. Chin with its
Lifetime Achievement Award. In 2014, he was selected to serve on
Governor Cuomo’s MTA Transportation Reinvention Commission.
Forward-Looking Statements
The information contained in this press release should be read in
conjunction with our filings made with the Securities and Exchange
Commission (“SEC Filings”) . This release includes statements that are
not historical or current facts and are “forward-looking statements”
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The words “believe,” “anticipate,”
“project,” “plan,” “expect,” “estimate,” “intend,” “will likely result,”
“looking forward” or “will continue,” and similar expressions identify
forward-looking statements. These statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from historical earnings and those presently anticipated or
projected, which are described in detail in our SEC Filings. The factors
that could affect financial performance or could cause actual results to
differ materially from estimates contained in or underlying the
Company’s forward-looking statements are discussed under the “Risk
Factors” section in MBIA Inc.’s most recent Annual Report on Form 10-K
and Quarterly Report on Form 10-Q, which may be updated or amended in
the Company’s subsequent filings with the Securities and Exchange
Commission. The Company cautions readers not to place undue reliance on
any such forward-looking statements, which speak only to their
respective dates. The Company undertakes no obligation to publicly
correct or update any forward-looking statement if it later becomes
aware that such result is not likely to be achieved.
MBIA Inc., headquartered in Purchase, New York is a holding company
whose subsidiaries provide financial guarantee insurance for the public
and structured finance markets. Please visit MBIA's website at www.mbia.com.
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MBIA Inc.
Greg Diamond, 914-765-3190
Investor and Media
Relations
greg.diamond@mbia.com
Source: MBIA Inc.