People: MBIA Inc (MBI)

Summary

Name	Age	Since	Current Position
Daniel Kearney	74	2009	Independent Chairman of the Board
C. Edward Chaplin	56	2008	President, Chief Financial Officer, Chief Administrative Officer
William Fallon	53	2008	President, Chief Operating Officer
Joseph Brown	64	2009	Chief Executive Officer, Director
Clifford Corso	51	2008	Executive Vice President, Chief Investment Officer
Ram Wertheim	58	2008	Executive Vice President, Chief Legal Officer, Secretary
Anthony McKiernan	43	2012	Executive Vice President, Chief Portfolio Officer
Maryann Bruce	52	2012	Independent Director
David Coulter	65	2008	Independent Director
Steven Gilbert	65	2011	Independent Director
Kewsong Lee	47	2008	Independent Director
Charles Rinehart	66	2008	Independent Director
Theodore Shasta	61	2009	Independent Director
Richard Vaughan	63	2007	Independent Director
Greg Diamond			Managing Director

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Biographies

Name	Description
Daniel Kearney	Mr. Daniel P. Kearney serves as Independent Chairman of the Board of MBIA Inc. He has served as a Director of the Company since 1992. He was named Chairman in May 2009, after having served as Lead Director from May 2008 to May 2009. Mr. Kearney is currently a Financial Consultant and retired as Executive Vice President of Aetna Inc. (insurance company) in February 1998. Prior to joining Aetna in 1991, he served as President and Chief Executive Officer of the Resolution Trust Corporation Oversight Board from 1989 to 1991. From 1988 to 1989, Mr. Kearney was a Principal at Aldrich, Eastman & Waltch, Inc., a pension fund advisor. Mr. Kearney was a Managing Director at Salomon Brothers Inc. (investment bank) in charge of the Mortgage Finance and Real Estate Finance departments from 1977 to 1988. He serves as a Director of Fiserv, Inc., MGIC Investment Corporation, the Joyce Foundation and Prudential Bank, and within the past five years was also a Director of Mutual Trust Life.
C. Edward Chaplin	Mr. C. Edward Chaplin serves as President, Chief Financial Officer, Chief Administrative Officer of MBIA Inc. Prior to being named President, Chief Financial Officer and Chief Administrative Officer, C. Edward Chaplin was Vice President and Chief Financial Officer of the Company. Mr. Chaplin also serves as Chief Financial Officer of MBIA Insurance Corporation and President, Chief Financial Officer and Chief Administrative Officer of Optinuity. Prior to becoming an officer of the Company in June 2006, Mr. Chaplin had served as a director of the Company from December 2002 to May 2006 and as Senior Vice President and Treasurer of Prudential Financial Inc. since November 2000, responsible for Prudential’s capital and liquidity management, corporate finance, and banking and cash management. Mr. Chaplin had been with Prudential since 1983.
William Fallon	Mr. William C. Fallon serves as President, Chief Operating Officer of MBIA Inc. Prior to being named President and Chief Operating Officer, he was was Vice President of the Company and head of the Global Structured Finance Division. Mr. Fallon also serves as Chief Executive Officer of National and President and Chief Operating Officer of MBIA Insurance Corporation. From July 2005 to March 1, 2007, Mr. Fallon was Vice President of the Company and head of Corporate and Strategic Planning. Prior to joining the Company in 2005, Mr. Fallon was a partner at McKinsey & Company and co-leader of that firm’s Corporate Finance and Strategy Practice.
Joseph Brown	Mr. Joseph W. Brown, Jr., serves as Chief Executive Officer, Director of MBIA Inc. He rejoined the Company in February 2008 as Chairman and Chief Executive Officer and served as Chairman until May 7, 2009. He became Executive Chairman on May 6, 2004 and retired from that position on May 3, 2007. Until May 2004, he had served as Chairman and Chief Executive Officer. He originally joined the Company as Chief Executive Officer in January 1999, having been a Director since 1986 and became Chairman in May 1999. Prior to joining the Company, Mr. Brown was Chairman of the Board of Talegen Holdings, Inc. from 1992 through 1998. Prior to joining Talegen, Mr. Brown had been with Fireman’s Fund Insurance Companies as President and Chief Executive Officer. Within the past five years, Mr. Brown also served as Non-Executive Chairman and as a Director of Safeco Corporation.
Clifford Corso	Mr. Clifford D. Corso serves as Executive Vice President, Chief Investment Officer of MBIA Inc. Prior to being named Executive Vice President and Chief Investment Officer, he was Vice President of the Company, the Company’s Chief Investment Officer and the president of Cutwater AMC. Mr. Corso is the Chief Executive Officer and Chief Investment Officer of Cutwater AMC. He joined the Company in 1994 and has served as Chief Investment Officer since 2000.
Ram Wertheim	Mr. Ram David Wertheim serves as Executive Vice President, Chief Legal Officer, Secretary of MBIA Inc. Prior to being named Executive Vice President, Chief Legal Officer and Secretary, he was Vice President, General Counsel and Secretary of the Company. Mr. Wertheim also serves as General Counsel of MBIA Insurance Corporation and Optinuity. From February of 1998 until January 2000, he served in various capacities in the Global Structured Finance Division. Mr. Wertheim was, until February of 1998, the General Counsel of CMAC Holdings Inc.
Anthony McKiernan	Mr. Anthony McKiernan serves as Executive Vice President, Chief Portfolio Officer of MBIA Inc. Prior to being named Executive Vice President and Chief Portfolio Officer on May 1, 2012, he was appointed Vice President and Chief Portfolio Officer of the Company on August 3, 2011. Mr. McKiernan is also the chief risk officer of MBIA Corp. Mr. McKiernan joined MBIA in 2000 as a vice president in the Credit Analytics Group, and managed the Corporate Insured Portfolio Management Group prior to becoming the Head of the Structured Finance Insured Portfolio Management Group in 2007. Before working at MBIA, Mr. McKiernan was with Fleet Financial Group where he began his career as a Credit Analyst/ Lender in asset-based lending.
Maryann Bruce	Ms. Maryann Bruce serves as an Independent Director of MBIA Inc. Ms. Bruce was elected to the Board of Directors in June 2012. Since October 2007, Ms. Bruce has been President of Turnberry Advisory Group, a private business services company, where she advises clients on strategic business issues. From December 2008 to July 2010, she was President of Aquila Distributors, Inc., a subsidiary of Aquila Investment Management LLC, a boutique asset manager. She consulted for Aquila beginning in February 2008, later becoming Senior Vice President and an Officer of each of the equity and bond funds in the Aquila Group of Funds throughout 2009. Prior to that, from September 1999 to June 2007, she was President of Evergreen Investments Services, Inc., an investment management business and subsidiary of Wachovia. She is a Member of the Board of Trustees of Allianz Funds, a Governing Board Member of The Committee of 200, and an Advisory Board Member of Duke University Libraries. She was also a Founding Director of Bank Insurance & Securities Association and currently serves on its Board as an Emeritus Director
David Coulter	Mr. David A. Coulter serves as an Independent Director of MBIA Inc. Mr. Coulter has been Vice Chairman of Warburg Pincus LLC since September 2011 and is a member of the Executive Management Group. He joined Warburg Pincus in 2005 as a Managing Director and Senior Advisor, focusing on the firm’s financial services investment activities. From 2000 through 2005, Mr. Coulter held a series of senior positions at JPMorgan Chase and was a member of the Office of the Chairman. He also held senior executive positions at The Beacon Group and served as Chairman and CEO of BankAmerica Corporation. He is also a Director of Aeolus Re Ltd., Webster Financial Corp., Sterling Financial Corp. and Triton Container International Limited. Within the past five years, Mr. Coulter also served as a Director of Strayer Education Inc., PG&E Corporation, The Irvine Company, Metavante Technologies, Inc. and First Data Corp.
Steven Gilbert	Mr. Steven J. Gilbert serves as an Independent Director of MBIA Inc. He is currently Chairman of the Board of Gilbert Global Equity Partners, L.P., a private equity fund, Vice Chairman of the Executive Board of MidOcean Capital Partners, L.P. and Chairman of the Board of CPM, Inc., a global provider of process machinery for the feed industry, and has served in these capacities since 1998, 2005 and 2000, respectively. He was previously Chairman and Senior Managing Director of SUN Group (USA), an investment firm, from 2007 to 2009. Previously, Mr. Gilbert was Managing General Partner of Soros Capital, L. P., Commonwealth Capital Partners, L.P., and Chemical Venture Partners. He also held investment banking positions with Morgan Stanley & Co., Wertheim & Co., Inc. and E.F. Hutton International. Mr. Gilbert was admitted to the Massachusetts Bar in 1970 and practiced law at Goodwin Procter & Hoar in Boston, Massachusetts. Mr. Gilbert is a Director of TRI Point Homes, Inc., a Director Nominee of The Empire State Realty Trust, Inc., a member of the Writer’s Guild of America (East) and the Council on Foreign Relations, a Trustee of the New York University Langone Medical Center, as well as Director of the Lauder Institute at the University of Pennsylvania. Within the past five years, Mr. Gilbert served as Chairman of the Board of DURA Automotive Systems, Inc., and as a Director of Olympus Re and several privately held companies.
Kewsong Lee	Mr. Kewsong Lee serves as an Independent Director of MBIA Inc. Mr. Lee served as a Member and Managing Director of Warburg Pincus LLC and as a General Partner of Warburg Pincus & Co. since January 1997. He has been employed at Warburg Pincus since 1992. He leads the firm’s leveraged buy-out and special situations efforts and focuses on the firm’s financial services investment activities. Prior to joining Warburg Pincus, Mr. Lee was a consultant at McKinsey & Company, Inc., a management consulting company, from 1990 to 1992. He is also a Director of ARAMARK Corporation, Arch Capital Group Ltd., Neiman Marcus, Inc. and several privately held companies. Within the past five years, he also served as a Director of Knoll Inc. and TransDigm Group Incorporated.
Charles Rinehart	Mr. Charles R. Rinehart serves as an Independent Director of MBIA Inc. From September 2008 to December 2008, Mr. Rinehart served as Chief Executive Officer and as a Director of Downey Financial Corp. and Downey Savings and Loan Association, F.A. Mr. Rinehart retired from HF Ahmanson & Co. and its principal subsidiary, Home Savings of America, in 1998. Mr. Rinehart joined HF Ahmanson in 1989 and shortly thereafter was named President and Chief Operating Officer. He was named Chief Executive Officer in 1993 and also became Chairman in 1995 and served in these roles through 1998. Prior to joining H.F. Ahmanson, Mr. Rinehart was the Chief Executive Officer of Avco Financial Services from 1983 to 1989 and before that served in various positions of increasing responsibility at Fireman’s Fund Insurance Company. He is also a Director and non-executive Chairman of Verifone Holdings, Inc. and a Director of PMI Group Inc. Within the past five years, he also served as a Director of Safeco Corporation, Downey Financial Corp. and Downey Savings and Loan Association.
Theodore Shasta	Mr. Theodore E.Shasta serves as an Independent Director of MBIA Inc. Mr. Shasta is a former Senior Vice President and Partner of Wellington Management Company, a global investment advisor. At Wellington Management Company, Mr. Shasta specialized in the financial analysis of publicly traded insurance companies, including both property-casualty and financial guarantee insurers. Mr. Shasta joined Wellington Management Company in March 1996 as a global industry analyst responsible for the insurance industry. In January 2008, Mr. Shasta became a portfolio advisor responsible for senior-level relationship management for existing institutional clients and consultants as well as development of new business, a position that he held until June 2009. In addition, effective January 1999, Mr. Shasta was elected Partner and was promoted to Senior Vice President, and served in such positions until he withdrew from the partnership in June 2009. He also served on Wellington Management’s Audit Committee from January 2004 to June 2009 and was Chair of that Committee from January 2008 until June 2009. Prior to joining Wellington Management Company, Mr. Shasta was a Senior Vice President with Loomis, Sayles & Company where he was an industry analyst responsible for the automotive, freight transportation and insurance industries. Before that, he served in various capacities with Dewey Square Investors and Bank of Boston. Mr. Shasta is a member of the Board of Directors of ACE Limited. Mr. Shasta is also a Trustee of The Worcester County Horticultural Society, a nonprofit organization.
Richard Vaughan	Mr. Richard C. Vaughan serves as an Independent Director of MBIA Inc. He served as Executive Vice President and Chief Financial Officer of Lincoln Financial Group from 1995 until his retirement in May 2005. He joined Lincoln in July 1990 as Senior Vice President and Chief Financial Officer of Lincoln National’s Employee Benefits Division. In June 1992, he was appointed Chief Financial Officer for the corporation. He was promoted to Executive Vice President in January 1995. He was previously employed with EQUICOR from September 1988 to July 1990, where he served as a Vice President in charge of public offerings and insurance accounting. Prior to that, Mr. Vaughan was a Partner at KPMG Peat Marwick in St. Louis, from July 1980 to September 1988. Mr. Vaughan is a member of the Board of Directors and Chair of the Audit Committee of AXA Financial. Within the past five years, Mr. Vaughan was also a Director of DaVita Inc. and Bank of New York Co. Inc.
Greg Diamond

Basic Compensation

Name	Fiscal Year Total
Daniel Kearney	--
C. Edward Chaplin	10,726,500
William Fallon	10,726,500
Joseph Brown	675,000
Clifford Corso	1,380,340
Ram Wertheim	7,285,170
Anthony McKiernan	6,898,920
Maryann Bruce	--
David Coulter	--
Steven Gilbert	--
Kewsong Lee	--
Charles Rinehart	--
Theodore Shasta	--
Richard Vaughan	--
Greg Diamond	--

As Of 30 Dec 2012

Options Compensation

Name	Options	Value
Daniel Kearney	0	0
C. Edward Chaplin	0	0
William Fallon	0	0
Joseph Brown	41,847,400	28,881,495
Clifford Corso	798,666	1,142,988
Ram Wertheim	4,002,038	1,378,392
Anthony McKiernan	0	0
Maryann Bruce	0	0
David Coulter	0	0
Steven Gilbert	0	0
Kewsong Lee	0	0
Charles Rinehart	0	0
Theodore Shasta	0	0
Richard Vaughan	0	0
Greg Diamond	0	0

Insider Trading

Name	Shares Traded	Price
LEE KEWSONG	2,933	$10.14
COULTER DAVID A	3,944	$10.14
MCKIERNAN ANTHONY	2,908	$10.27
HAMILTON DOUGLAS C	1,947	$10.27
CHAPLIN C EDWARD	45,526	$12.78
HAMILTON DOUGLAS C	9,577	$12.78
FALLON WILLIAM C	45,530	$12.78
BROWN JOSEPH W JR	2,925,990	$0.00
LEE KEWSONG	2,787	$8.16
COULTER DAVID A	4,442	$8.16
BROWN JOSEPH W JR	749,000	$0.00
MCKIERNAN ANTHONY	400,000	$7.84
WERTHEIM RAM D	400,000	$7.84
FALLON WILLIAM C	600,000	$7.84
CHAPLIN C EDWARD	600,000	$7.84
COULTER DAVID A	3,829	$10.25
LEE KEWSONG	2,317	$10.25
LEE KEWSONG	2,085	$10.91
COULTER DAVID A	3,414	$10.91
BRUCE MARYANN	9,892	$10.11
GILBERT STEVEN J	9,570	$10.45
KEARNEY DANIEL P	9,570	$10.45
SHASTA THEODORE	9,570	$10.45
LEE KEWSONG	9,570	$10.45
RINEHART CHARLES R	9,570	$10.45

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People: MBIA Inc (MBI)

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Summary

Biographies

Basic Compensation

Options Compensation

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