Edward J. Grzybowski became a director of FGIC in August 2014.  Mr. Grzybowski is a prominent institutional investor who most recently served as chief investment officer of TIAA-CREF, the Fortune 100 financial services organization, where he was responsible for developing and implementing the investment strategy for approximately one-half trillion dollars in assets.  Under his investment leadership, TIAA-CREF became the largest institutional real estate owner/manager in the United States, the second-largest institutional owner of farmland in the United States, and was the recipient of the Lipper Best Overall Large Fund Company award for best risk-adjusted performance for the period 2010 — 2012.  Mr. Grzybowski holds a B.A. and M.A. in economics from the City University of New York.