RAM Holdings Ltd. (Nasdaq Global Market:RAMR) announced today that its
Board of Directors, on recommendation of the Nominating and Corporate
Governance Committee, appointed Lloyd A. (“Tony”) Porter, Chief Risk
Officer and Executive Vice President of The PMI Group, Inc. (PMI), to
fill a vacancy on the Board of Directors. The vacancy resulted from the
previously announced resignation of Bradley M. Shuster.
Welcoming Mr. Porter to the Board, Mr. Vernon M. Endo, Chief Executive
Officer and President of the Company said, “We are delighted to have
Tony join our Board. His broad mortgage and risk management experience
will augment our existing capabilities.” As Executive Vice President,
Chief Risk Officer of PMI, Tony Porter is responsible for PMI’s Risk
Management enterprise, including portfolio management and risk exposure
optimization, reinsurance, reserving, pricing, corporate credit policy
and asset disposition.
Prior to assuming the role of Chief Risk Officer, Mr. Porter managed
PMI’s non-US mortgage insurance activities in Australia, Europe, Hong
Kong, and Canada. Prior to assuming the leadership role for
international markets, Mr. Porter managed institutional markets,
implementing the use of PMI’s automated underwriting system in the
capital markets.
Mr. Porter is a founding board member of Habitat for Humanity Ireland. A
graduate of the University of California at Los Angeles, he holds
bachelor’s degrees in economics and psychology and has received advanced
training at Northwestern University’s executive management program. He
was awarded “Faculty Fellow” by the U.S. Mortgage Bankers Association
for commitment and excellence in teaching in the School of Mortgage
Banking.
About RAM
RAM Holdings Ltd. is a Bermuda-based holding company. Its operating
subsidiary RAM Reinsurance Company Ltd. provides financial guaranty
reinsurance for U.S. and international public finance and structured
finance transactions. More information can be found at www.ramre.com.
About PMI Group, Inc.
The PMI Group, Inc. (NYSE:PMI), headquartered in Walnut Creek, CA,
provides credit enhancement solutions that expand homeownership
opportunities. Through its wholly and partially owned subsidiaries, PMI
offers residential mortgage insurance and credit enhancement products.
For more information: www.pmigroup.com.
RAM Holdings Ltd., Hamilton
Vernon M. Endo, 441-298-2105
vendo@ramre.bm
or
Victoria
Guest, 441-298-2116
vguest@ramre.bm
