Gerard Murray is managing director and responsible for Portfolio Reporting at National Public Finance Guarantee Corporation. He is responsible for reporting on National's insured portfolio, the largest in the monoline industry with over $470 billion in net par outstanding.

Prior to this position, Mr. Murray was a managing director of MBIA Insurance Corporation and oversaw its domestic public finance insured portfolio. Previously, Mr. Murray was head of Internal Audit and subsequently Controller for MBIA Insurance Corporation. In 1998, Mr. Murray joined MBIA in connection with the CapMAC Holdings Inc. merger. As, Senior Vice President, Controller, he headed up accounting and financial reporting at CapMAC when Citibank sold it and during the subsequent Initial Public Offering prior to the merger with MBIA Inc. While at CapMAC, he was also responsible for setting up offices in Paris and Singapore. He started at CapMAC in April 1988 as the Assistant Controller.

Mr. Murray's previous experience included approximately four years as a financial auditor with Chase Manhattan Bank and approximately two years with Marsh & McLennan as a senior researcher in the Accounting Policies and Procedures area. He started his career as an auditor with Coopers & Lybrand in New York City.

Mr. Murray received his BA in Accounting from Iona College and is a certified public accountant of New York State, a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.