PMI Europe Names Gov't Affairs Chief

Christian Pierotti has been named to the newly created position of manager of governmental affairs at PMI Mortgage Insurance Co. Ltd., also known as PMI Europe.PMI said Mr. Pierotti will be responsible for developing PMI Europe's regulatory affairs strategy and directing all governmental lobbying efforts at the European Union and national levels. "Mr. Pierotti will initially focus on the implementation of Basel II [capital adequacy guidelines] at the EU and national level seeking to recognize appropriate capital relief for banks that transfer credit risk through mortgage insurance," PMI said. "Additionally, he will work to position mortgage insurance as a prudent means to expand covered bond loan eligibility, extending this important -- and growing -- funding tool to a broader array of residential mortgage loans."