PMI Forms New Sub

The PMI Group Inc., Walnut Creek, Calif., has announced the formation of PMI Capital Corp., a wholly owned subsidiary that will manage PMI's subsidiaries and investments in the areas of lender services, international mortgage insurance, and financial guaranty.Bradley M. Shuster, president of international and strategic investments at PMI, has been named president of the new subsidiary, which the parent company said will enable it to centralize resources for its diversification efforts. Several other executives were named to new or expanded roles in connection with the move: John Fulford, executive vice president and managing director of lender services; Tony Porter, senior vice president and managing director, international mortgage insurance; Arthur Slepian, senior vice president and managing director, financial guaranty; and Joanne Berkowitz, vice president and chief risk officer. PMI Group can be found online at http://www.pmigroup.com.