Assured Guaranty Corporation, a financial guaranty insurance company and a subsidiary of Assured Guaranty Limited, has appointed Michael DiRende as the new managing director of risk management.

Mr DiRende will report to Andrew Pickering, managing director and chief surveillance officer at Assured Guaranty Limited. His most recent experience was in remediation and restructuring for both debt and equity exposures.

Prior to joining Assured, Mr DiRende was a director in the special situations group at MBIA Insurance where he focused on both municipal and structured finance credits. Mr DiRende has a bachelor’s in business administration in accounting from Pace University.

Mr Pickering said: We are extremely pleased that Mike has joined Assured to assist us in further expanding our strong risk management capabilities. As our credit portfolio expands in size and diversity, it is important that we continue to add to our risk management expertise, particularly in the current credit environment.