Bermuda-based bond insurer Ram Holdings Ltd. announced that Edward Gilpin has joined the company as chief financial officer.

Mr. Gilpin will report to Vernon Endo, the company's chief executive officer.

Mr. Endo said: "We are pleased to have Ted join our management team.

"He is an experienced public company CFO with an extensive background in the financial guaranty industry.

"The industry is undergoing significant change and Ted's broad and deep experience will serve us well."

Mr. Gilpin joins Ram Holdings from ACA Capital Holdings, Inc., a holding company that provides asset management services and credit protection products, where he was executive vice-president and chief financial officer and a director.

Prior to joining ACA Capital in 2001, Mr. Gilpin was vice-president in the Financial Institutions Group at Prudential Securities, Inc.'s investment banking division.

From 1998 to 2000, Mr. Gilpin was CFO of an ACA Capital affiliated 'AAA' start-up venture.

From 1991 to 1998, Mr. Gilpin was with MBIA, holding various positions in the finance area.

His most recent position with MBIA was director, chief of staff for MBIA's president.