Assured Guaranty Ltd. has announced that, as of January 1, 2024, Chief Financial Officer Robert A. Bailenson will become Chief Operating Officer, while Chief Actuary Benjamin G. Rosenblum will succeed him as Chief Financial Officer.
In his new role as COO, Bailenson will hold responsibility for various strategic initiatives as Assured Guaranty looks to grow its business further and increase its returns through increased earnings from insurance and asset management, higher investment returns, and capital efficiencies.
He will also assume responsibility over the company’s financial guaranty underwriting businesses and origination strategies worldwide, as well as other initiatives for revenue generation.
At the same time, Bailenson will also be in charge of Investor Relations and Corporate Communications, Information Technology, and the AG Analytics subsidiary.
He will also continue to work closely with the company’s President and CEO, Dominic Frederico, in setting the strategic direction of the business and in the execution of corporate priorities.
Bailenson has been with Assured Guaranty and its predecessor companies since 1990. He has served as CFO since June 2011, and has also previously held a number of previous leadership positions with Assured Guaranty and its predecessor companies.
He has been highly 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.
Moreover, in his new role as CFO, Rosenblum will assume responsibility for the operations of critical financial functions.
In his current role, serving 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 when he takes on the role of CFO in January.
He will also oversee Treasury, Tax, and Investment Management.
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, Rosenblum worked for nearly a decade 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 businesses risk analysis, loss projection and reserve calculations as it faced several business challenges over the years. These include the likes of, the global financial crisis of 2008, the integration of AGM in 2009, and the defaults of Detroit and Puerto Rico.
Most recently, he was instrumental in completing the transaction that resulted in the combination of Assured Investment Management with Sound Point Capital Management.
“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.”
