Assured Guaranty Announces New Senior Management Positions
November 07 2023 - 3:20PM
Business Wire
Robert Bailenson Promoted to COO; Benjamin
Rosenblum to Succeed Him as CFO
Assured Guaranty Ltd. (NYSE:AGO) (Assured Guaranty or the
Company) announced that, as of January 1, 2024, Chief Financial
Officer Robert A. Bailenson will be appointed Chief Operating
Officer, and Chief Actuary Benjamin G. Rosenblum will succeed him
as Chief Financial Officer.
“Assured Guaranty has a deep, highly experienced, and
well-established senior management team, and these promotions
further reinforce the core of Assured Guaranty’s steady
leadership,” said Dominic J. Frederico, President and Chief
Executive Officer. “Rob and Ben have each been with the company for
many years and have an extensive understanding of our strategies,
markets, business practices, and the unique characteristics of the
financial guaranty business. We are taking these steps now to
elevate them in recognition of their talents and contributions to
the Company and to leverage their leadership abilities in pursuit
of our strategic objectives.”
As COO, Mr. Bailenson will be responsible for various strategic
initiatives as Assured Guaranty seeks to grow its business and
increase its returns through increased earnings from insurance and
asset management, higher investment returns, and capital
efficiencies. Specifically, he will assume responsibility over the
company’s financial guaranty underwriting businesses and
origination strategies worldwide, as well as other initiatives for
revenue generation. He will also be in charge of Investor Relations
and Corporate Communications, Information Technology, and the AG
Analytics subsidiary. He will continue to work closely with
President and CEO Dominic Frederico in setting the strategic
direction of the Company and in the execution of corporate
priorities.
As CFO, Mr. Rosenblum will assume responsibility for the
operations of critical financial functions. As Chief Actuary, he
has already been leading the Accounting, Financial Reporting,
Sarbanes-Oxley controls, Portfolio Analytics and Quantitative
Analytics departments and will continue to do so as CFO. In
addition, he will oversee Treasury, Tax, and Investment
Management.
Mr. Bailenson has been with Assured Guaranty and its predecessor
companies since 1990. He has been Chief Financial Officer of
Assured Guaranty Ltd. since June 2011 and held a number of previous
leadership positions with Assured Guaranty and its predecessor
companies. He has been instrumental in some of the Company’s most
significant strategic initiatives, including the IPO of Assured
Guaranty Ltd. and the acquisition of Financial Security Assurance
Inc. (now Assured Guaranty Municipal Corp., or AGM), as well as
acquisitions of other legacy financial guarantors. As CFO, he began
the execution of our capital management program in 2013, which has
resulted in the repurchase of more than $4.8 billion of AGO common
shares since then, led the execution of various Assured Guaranty
debt offerings and refinancings, and he has been a leader in
efforts to grow the Company’s asset management earnings. He also
spearheaded myriad improvements to the Company’s accounting,
disclosure, and treasury operations. Prior to joining the Company,
he worked at Ernst & Young LLP.
Mr. Rosenblum joined Assured Guaranty in 2004 and has been its
Chief Actuary since 2010. In 2015, he also became Senior Managing
Director in charge of Insurance Accounting and Financial Reporting.
Prior to joining Assured Guaranty, he worked for nearly ten years
as an actuary with his primary focus on loss reserving and
developing actuarial systems and financial projections in the
insurance industry. He has been an invaluable contributor to the
Company’s risk analysis, loss projection and reserve calculations
as it faced numerous business challenges over the years, including
the global financial crisis of 2008, the integration of AGM in
2009, and the defaults of Detroit and Puerto Rico, for example.
Most recently, he was instrumental in completing the transaction
that resulted in the combination of Assured Investment Management
with Sound Point Capital Management.
About Assured Guaranty
Ltd.
Assured Guaranty Ltd. is a publicly traded (NYSE: AGO),
Bermuda-based holding company. Through its subsidiaries, Assured
Guaranty provides credit enhancement products to the U.S. and
international public finance, infrastructure and structured finance
markets. Assured Guaranty also participates in the asset management
business through its ownership interest in Sound Point. More
information on Assured Guaranty Ltd. and its subsidiaries can be
found at AssuredGuaranty.com.
Cautionary Statement Regarding
Forward-Looking Statements
Any forward-looking statements made in this press release
reflect Assured Guaranty’s current views with respect to future
events and are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements
involve risks and uncertainties that may cause actual results to
differ materially from those set forth in these statements. These
risks and uncertainties include, but are not limited to,
difficulties executing Assured Guaranty’s business strategy; loss
of key personnel; the possibility that strategic transactions made
by Assured Guaranty, including the consummation of the transaction
with Sound Point, do not result in the benefits anticipated or
subject Assured Guaranty to negative consequences; and other risks
and uncertainties that have not been identified at this time,
management’s response to these factors, and other risk factors
identified in Assured Guaranty’s filings with the Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which are made as of
November 7, 2023. Assured Guaranty undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231106625645/en/
Robert Tucker Senior Managing Director, Investor Relations and
Corporate Communications 212-339-0861 rtucker@agltd.com
Ashweeta Durani Vice President, Media Relations 212-408-6042
adurani@agltd.com
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