Assured Guaranty Ltd. (NYSE:AGO) (Assured Guaranty) announced that Michelle McCloskey, Lorin P.T. Radtke and Courtney C. Shea have been elected to Assured Guaranty’s Board of Directors. Ms. McCloskey and Ms. Shea will each serve on the Board’s Audit and Environmental and Social Responsibility committees, and Mr. Radtke will serve on its Finance and Risk Oversight committees. The elections are effective as of May 5, 2021 and bring the total number of Board members to 13.
“We are extremely pleased that Ms. McCloskey, Mr. Radtke and Ms. Shea are joining our Board as independent directors,” said Assured Guaranty Chairman Francisco L. Borges. “These accomplished businesspeople bring a wealth of experience through their diverse backgrounds, complementing the skill sets and perspectives of our other distinguished directors as the Board focuses on strategies for Assured Guaranty’s continued success.”
“I am excited to welcome our new Board members, and I look forward to working with them,” said Dominic Frederico, CEO and President of Assured Guaranty. “With their varied backgrounds in public finance, structured finance and investment management, their insights will be valuable to our company as we develop into a diversified financial services company with a dual focus on financial guaranty insurance and asset management.”
Ms. McCloskey has more than 35 years of experience in executive roles in the energy, financial trading and asset management sectors, most recently working at Man Group, an investment management firm with assets in excess of $113 billion, including serving as a member of the Man Group Executive Committee and President of Man FRM. Ms. McCloskey also led Man Group’s diversity and inclusion network in the U.S. Prior to her tenure at the Man Group, Ms. McCloskey was a portfolio manager in the commodities sector for a variety of institutions.
Mr. Radtke is the co-founder and partner of venture capital firm M Seven 8. Prior to founding M Seven 8, he spent 24 years in various senior positions with Goldman Sachs, eight years of which was as a Partner. While at Goldman, he held positions including Head of Credit Products Group—Hard Asset and Portfolio Solutions, Head of Structured Products—Distribution and Sourcing, Head of Structured Portfolio Solutions Group and Head of CLO Origination. Additionally, Mr. Radtke played an integral role in the development of diverse professionals within Goldman Sachs by leading diversity development programs.
Ms. Shea has had a 35-year career in U.S. public finance in which she has served as both a municipal advisor and investment banker working with state and local governments, not-for-profits and universities, in their issuance of municipal bonds. Most recently she has served as the Managing Member of Columbia Capital Management, a national municipal advisory firm. Prior to her tenure at Columbia Capital Management, Ms. Shea was an investment banker with several Wall Street firms, including serving as National Head of Public Finance at a division of ABN AMRO.
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, and also provides asset management services. More information on Assured Guaranty Ltd. and its subsidiaries can be found at AssuredGuaranty.com.
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 this press release. These risks and uncertainties include, but are not limited to, difficulties executing Assured Guaranty’s business strategy 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 May 5, 2021. 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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