Three directors elected to board of Assured Guaranty
Three independent directors have been elected to the board of Bermudian-based holding company Assured Guaranty Ltd.
The company said Michelle McCloskey and Courtney Shea will each serve on the board’s audit and environmental and social responsibility committees, and Lorin Radtke will serve on its finance and risk oversight committees.
The elections are effective today, and bring the total number of board members to 13.
Francisco Borges, chairman of Assured Guaranty, said: “We are extremely pleased that Ms McCloskey, Mr Radtke and Ms Shea are joining our board as independent directors. 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.”
Dominic Frederico, CEO and president of Assured Guaranty, said: “I am excited to welcome our new board members, and I look forward to working with them. 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.”
The company said 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. She also led Man Group’s diversity and inclusion network in the US.
Prior to her tenure at the Man Group, Ms McCloskey was a portfolio manager in the commodities sector for a variety of institutions.
Assured Guaranty said 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 programmes.
The company said Ms Shea has had a 35-year career in US public finance in which she has served as both a municipal adviser and investment banker working with state and local governments, not-for-profits and universities, in their issuance of municipal bonds.
Most recently, she 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.
Through its subsidiaries, Assured Guaranty Ltd provides credit enhancement products to the US and international public finance, infrastructure and structured finance markets, and also provides asset management services.