Build America Mutual Assurance Company announced Thursday that it has joined the Securities Industry and Financial Markets Association as an associate member.
“We’re very pleased to join SIFMA,” said Seán McCarthy, managing director and chief executive officer of BAM. “We believe SIFMA plays an important role in the municipal market we serve and that our membership will allow us to contribute to its efforts to support a strong municipal industry.”
Members of the association include law, technology and consulting firms, rating agencies, insurers, security exchanges, trading and analytic platforms, and clearing and settlement providers in the securities industry.
SIFMA describes its mission as supporting a strong financial industry, investor opportunity, capital formation, job creation, and economic growth. It has offices in New York and Washington, D.C.
Headquartered in New York, BAM was founded in July and is rated AA with a stable outlook by Standard & Poor’s. The company is the first mutual municipal bond insurer, owned by the cities, states, and other municipal entities that use its guaranty.
