NEW YORK, May 04, 2010 (BUSINESS WIRE) --Assured Guaranty Corp. ("AGC") and Assured Guaranty Municipal Corp.
("AGM") announced today that Donald J. Farrell will join AGC and AGM as
Director, Public Finance Business Development, Eastern Region. In his
new role, Mr. Farrell will primarily focus on maintaining and expanding
relationships with public finance and financial advisory firms in the
Eastern region. He reports to William O'Keefe, Senior Managing Director
of the Business Development Group.
"We're looking forward to working with Don, who brings significant
experience and market knowledge of the financial guaranty industry,"
said Mr. O'Keefe. "He will help us further our goal of providing
creative and responsive service to issuers and investors in insured
municipal bonds."
Mr. Farrell said: "I'm delighted to join the Assured Guaranty team. In
today's market, I believe the Assured Guaranty companies play a unique
role in providing value to issuers and investors."
Mr. Farrell joined AGC and AGM from Ambac Assurance Corporation
("Ambac"), where he served most recently as Managing Director and Head
of Public Finance East. In his 16 years at Ambac, he was involved in all
aspects of municipal bond insurance, including credit analysis,
transaction underwriting and pricing, and client relationship
management, across the full spectrum of tax-backed and revenue-backed
sectors. He holds a B.B.A. in Accounting from Pace University.
AGC and AGM are subsidiaries of Assured Guaranty Ltd. (together with its
subsidiaries, "Assured Guaranty" or the "Company") (NYSE:AGO), a
publicly traded, Bermuda-based holding company. Its operating
subsidiaries provide credit enhancement products to the U.S. and
international public finance, infrastructure and structured finance
markets. More information on the Assured Guaranty family of companies
can be found at www.assuredguaranty.com.
Cautionary Statement Regarding Forward-Looking Statements:
Any forward-looking statements made in this press release reflect the
current views of Assured Guaranty with respect to future events and
financial performance 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. For
example, Assured Guaranty's forward-looking statements could be affected
by: (1) rating agency action, including a ratings downgrade at any time
of Assured Guaranty Ltd. or any of its subsidiaries and/or of
transactions insured by such subsidiaries, both of which have occurred
in the past; (2) developments in the world's financial and capital
markets that adversely affect issuers' payment rates, the Company's loss
experience, its ability to cede exposure to reinsurers, its access to
capital, its unrealized (losses) gains on derivative financial
instruments or its investment returns; (3) changes in the world's credit
markets, segments thereof or general economic conditions; (4) more
severe or frequent losses implicating the adequacy of the Company's loss
reserve; (5) the impact of market volatility on the mark-to-market of
the Company's contracts written in credit default swap form; (6)
reduction in the amount of reinsurance portfolio opportunities available
to the Company; (7) decreased demand or increased competition; (8)
changes in applicable accounting policies or practices; (9) changes in
applicable laws or regulations, including insurance and tax laws; (10)
other governmental actions; (11) difficulties with the execution of the
Company's business strategy; (12) contract cancellations; (13) the
Company's dependence on customers; (14) loss of key personnel; (15)
adverse technological developments; (16) the effects of mergers,
acquisitions and divestitures; (17) natural or man-made catastrophes;
(18) other risks and uncertainties that have not been identified at this
time; (19) management's response to these factors; and (20) other risk
factors identified in Assured Guaranty Ltd.'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
the date of this release. 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.
SOURCE: Assured Guaranty
Assured Guaranty
Betsy Castenir, Managing Director, Corporate Communications
212-339-3424 or 917-940-2462
bcastenir@assuredguranty.com
or
Ashweeta Durani, Vice President, Corporate Communications
212-408-6042 or 917-597-2065
adurani@assuredguaranty.com