Message #1 From:
NewsBot Date: March 29, 2007 10:20:00 AM
AGO News Stephen Donnarumma Appointed Chief Credit Officer of Assured Guaranty Corp.
NEW YORK--(BUSINESS WIRE)--Assured Guaranty Corp. (“Assured”), a subsidiary of Assured Guaranty Ltd. (NYSE:AGO) (the “Company”), has appointed Stephen Donnarumma to the position of Chief Credit Officer. Mr. Donnarumma will report to Howard Albert, the Chief Credit Officer of Assured Guaranty Ltd.
“Steve’s experience in the mortgage and asset-backed markets, as well as his long tenure at Assured, including senior positions in credit, risk management, reinsurance and underwriting, will make him a valuable addition to our credit team as we expand into new asset classes and markets,” commented Dominic Frederico, President and Chief Executive Officer of Assured Guaranty Ltd.
Mr. Donnarumma has been with Assured for more than 13 years and was most recently the Managing Director of Assured’s Mortgage and Asset Backed Securities Group. He has also served as the Chief Underwriting Officer and Chief Operating Officer of Assured Guaranty Mortgage Insurance Company, Chief Operating Officer of Assured Guaranty Re Ltd., and Chief Risk Officer of Assured Guaranty Corp.
Prior to joining the Company in 1993, Mr. Donnarumma served as Vice President, Structured Finance at Financial Guaranty Insurance Company and as Director of Credit Risk Analysis in the Credit Policy Division at Fannie Mae. He began his career as an analyst for Moody’s Investors Service and received an M.B.A. from The Stern School of Business at New York University. He also has a B.S. from the Wharton School of the University of Pennsylvania.
Assured Guaranty Corp. is a leading provider of financial guaranty insurance in the U.S. and international public finance, structured finance and mortgage-backed securities markets. Assured Guaranty Corp.’s underwriting experience combined with its financial strength makes it the innovative financial guaranty partner of choice for issuers, investors and broker/dealers.
Assured Guaranty Ltd. is a Bermuda-based holding company. Its operating subsidiaries provide credit enhancement products to the U.S. and international public finance, structured finance and mortgage markets. More information can be found at www.assuredguaranty.com.
Any forward-looking statements made in this press release reflect the Company’s current views 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, the Company’s forward-looking statements, including its statements regarding the expansion of asset classes or markets, could be affected by a significant reduction in the amount of reinsurance ceded by one or more of our principal ceding companies, rating agency action such as a ratings downgrade, difficulties with the execution of the Company’s business strategy, contract cancellations, developments in the world’s financial and capital markets, more severe or frequent losses associated with products affecting the adequacy of the Company’s loss reserve, changes in regulation or tax laws, governmental actions, natural catastrophes, the Company’s dependence on customers, decreased demand or increased competition, loss of key personnel, technological developments, the effects of mergers, acquisitions and divestitures, changes in accounting policies or practices, changes in general economic conditions, other risks and uncertainties that have not been identified at this time, management’s response to these factors, and other risk factors identified in the Company’s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
