Galbato New President, CEO Of GE's Coregis Group

Financial Guaranty Insurance Company (FGIC), a GE Capital company, has named Chan W. Galbato president and CEO of Coregis Group, FGIC's Chicago-based public entity insurance affiliate. Galbato replaces Courtney Smith, who served as Coregis president and CEO since 1993.

Coregis, a subsidiary of GE Capital and a FGIC affiliated company, sells property and casualty insurance to municipalities, schools and special districts.

With experience in profit and loss management, market development, and customer sensitivity, Galbato brings more than 11 years of senior GE management experience to his position at Coregis. He most recently served as general manager of Service Marketing for GE Medical Systems of Milwaukee, which makes diagnostic imaging equipment. Galbato previously served as general manager of the Service Management group for GE Appliances in Louisville, Kentucky, and held senior management positions with GE Transportation Systems in Erie, Pennsylvania. Galbato's professional experience includes strategic analysis, organizational development, and GE's Six Sigma quality improvement methodology.

"Chan Galbato is committed to strengthening Coregis' position as a leader and innovator in the public entity insurance marketplace," said Ann C. Stern, FGIC's chairman, president and CEO. "Capitalizing on his service management expertise, Coregis will offer unparalleled value to its existing customer base as it expands into new market segments.

"We are thankful to Courtney Smith for his dedicated service to Coregis," Stern said. "He laid the groundwork for a new era of growth and quality customer service." Last year Smith led a company-wide redesign initiative focused on new market penetration and improvements in customer service.

Galbato holds a master's of business administration degree from the University of Chicago and a bachelor's degree from the State University of New York.