Build America Mutual Assurance Co. on Friday announced that it has made a number of new hires, as well as promotions within the company.
The company said the moves will enhance the underwriting and new business efforts of BAM's growing municipal bond insurance business.
Bryan Baebler joins BAM as vice president in capital markets, responsible for the company's competitive and negotiated business. He joins BAM from Barclays, where he was a vice president on the municipal primary syndicate desk.
Brian Siper, previously counsel at Assured Guaranty, has joined BAM's legal department as associate counsel. Andrew Bevan, also coming from Assured Guaranty, has been hired as a vice president in BAM's public finance group in the east. At Assured, Bevan was a managing director in the company's Sydney, Australia office.
BAM is also getting a new vice president in the corporate communications department. Kathryn Byrnes joins the company from Marsh, Inc., where she was a vice president and communications manager.
Within the company, Elizabeth Hill has become BAM's deputy credit officer. She was formerly the company's head of surveillance. Michael Weinstein, who was previously vice president of surveillance at BAM, will fill Hill's previous role as head of surveillance.
"These additions and promotions will significantly add to BAM's new business effort and operational strengths as we continue to expand our municipal financial guaranty business," said Seán McCarthy, managing director and chief executive officer of BAM.
The bond insurer now has approximately 60 employees at its New York headquarters and San Francisco offices.
BAM is the first mutual monoline insurer of municipal bonds and launched in July of 2012. The company carries a AA rating and stable outlook from Standard & Poor's.
According to Thomson Reuters data, BAM is ranked number two out of three active bond insurers during the first quarter, working on 131 issues totaling $856.7 million, with a 40.1% market share.
