MBIA (MBI) Elects Warburg Pincus' Sean Carney as Director

December 12, 2013 2:18 PM EST
MBIA Inc. (NYSE: MBI) announced that Sean D. Carney (44) was elected to MBIA’s board of directors in accordance with the board’s power under MBIA Inc.’s by-laws to fill interim vacancies. Mr. Carney was designated and elected to the board of directors pursuant to the terms of the amended and restated Investment Agreement dated as of February 6, 2008 between MBIA and Warburg Pincus. Mr. Carney has been a Member and Managing Director of Warburg Pincus LLC and a General Partner of Warburg Pincus & Co. since January 2001 and has been employed with Warburg Pincus since 1996. He focuses on investments in the financial services sector and has also worked on the firm’s healthcare team.

Prior to joining Warburg Pincus, Mr. Carney was a consultant at McKinsey & Company, Inc., a management consulting company. He is also Chairman and a Director of Tornier N.V., and is a member of the board of directors of several other privately held companies. Within the past five years, he also served as a Director of Arch Capital Group Ltd. Mr. Carney received an A.B. in economics from Harvard College and an M.B.A. from Harvard Business School.

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