Build America Mutual has hired Dan Bingham, who will join BAM’s capital markets team in the newly created role of head of institutional markets.
The now former head of trading at Goldman Sachs will focus on expanding demand for BAM-insured bonds from financial institutions, including major investors and broker-dealers, particularly through secondary-market insurance transactions.
“Institutional investors are increasingly using secondary-market BAM insurance policies for their existing holdings as a portfolio and risk-management tool,” said Seán W. McCarthy, BAM's chief executive. “Dan’s experience in the market will allow us to identify even more of those opportunities and turn them into transactions that benefit BAM’s investor stakeholders and expand our insured portfolio.”
Bingham has more than 30 years of experience in municipal capital markets, most recently as managing director and head of municipal trading at Goldman Sachs & Co. and previously as a managing director at Citi.
“BAM’s municipal-only insured portfolio is inherently attractive to municipal bond investors, who prioritize transparency and risk management,” Bingham said. “I have watched the BAM team build its franchise on that strong foundation, and I am looking forward to joining them and helping to drive future growth.”
Bingham was also a member of SIFMA’s municipal executive committee from 2012 through 2017. He will join BAM in early 2020 and report to Grant Dewey, BAM’s head of municipal capital markets.
“Dan’s extensive experience and relationships across the market give him credibility that’s a crucial tool when presenting new ideas,” Dewey said. “Our entire capital markets team will benefit from his perspective and ability to identify relative value opportunities for bond insurance.”
