CIFG Holding, Ltd., the holding company for CIFG's financial guaranty subsidiaries, has named David Rockwell as chief risk officer with overall responsibility for the company's risk management activities and surveillance functions.

At the same time, Bermuda-based CIFG also announced Thierry Dissaux will serve as head of European operations and CEO for CIFG Europe.

"David and Thierry are both extremely experienced, seasoned professionals who will help enormously in our efforts aimed at strengthening our risk management procedures and building up our European presence," said John Pizzarelli, CEO of CIFG.

Mr. Rockwell has held several senior risk management positions over the past 15 years, including head of structured finance risk management at Radian Asset Assurance and chief credit officer for AIG Risk Finance. He earned his bachelor's degree at St. Lawrence University and a law degree from Albany Law School.

Mr. Dissaux has served in several positions, including corporate development and strategy, with CIFG and a former parent company, IXIS, since 2000. Before that, he held various positions in the Treasury Department of the French Ministry of Finance, including serving as a financial attache and Treasury representative to the American and Japanese financial authorities.

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Montpelier US, the Hartford-based subsidiary of Bermuda-based Montpelier Re Holdings Ltd., yesterday announced that Francis (Bud) Lockwood has joined as the president of Montpelier Underwriting Inc. and member of the Montpelier US executive committee.

Mr. Lockwood comes to MUI with over 25 years of experience in the (re)insurance industry, having served most recently as senior vice-president of Catlin Underwriting Inc. (formerly Wellington) and as a member of the Catlin executive committee with responsibility for property treaty business.

Mr. Lockwood will be based in MUI's Shelton, Connecticut office and will have responsibility for all of (re)insurance business underwritten by MUI as a cover holder for Montpelier Re Syndicate 5151 at Lloyd's.

Michael Finnegan has joined MUI as senior vice-president of Montpelier Program Management (MPM) with overall responsibility for the development and management of MPM business.

And John Dalton, senior vice-president of MUI, has assumed responsibility as director of MUI's direct property facultative division. He will oversee the development and operation of MUI's large limit, excess of loss property facultative business.