Build America Mutual (BAM), a municipal-only bond insurer, has appointed Dan Bingham to the newly-created role of Head of Institutional Markets in the firm’s capital markets team.
Bingham will focus on expanding demand for BAM-insured bonds from financial institutions, including major investors and broker-dealers, particularly through secondary-market insurance transactions.
Bingham has more than 30 years’ 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. He 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.
“Institutional investors are increasingly using secondary-market BAM insurance policies for their existing holdings as a portfolio and risk-management tool,” says Seán W McCarthy, Chief Executive Officer. “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.”
“Dan’s extensive experience and relationships across the market give him credibility that’s a crucial tool when presenting new ideas,” says Dewey. “Our entire capital markets team will benefit from his perspective and ability to identify relative value opportunities for bond insurance.”
“BAM’s municipal-only insured portfolio is inherently attractive to municipal bond investors, who prioritise transparency and risk management,” says Bingham. “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.”