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Daniel Keating Joins BAM as Senior Managing Director, Municipal Markets

NEW YORK, October 27, 2014

Daniel Keating, a veteran leader in the municipal bond market, will join Build America Mutual as Senior Managing Director, Municipal Markets, effective immediately, the company announced today. In this role, Mr. Keating will utilize his extensive experience in all aspects of the municipal market. He will work with BAM’s Capital Markets and Public Finance departments to identify new opportunities for the company to use its AA/Stable-rated financial guaranty to enhance municipal market liquidity.

“Dan Keating has extensive experience and deep knowledge of the intricacies of the municipal market and the people who make it work every day, which makes him uniquely qualified to help us further our mission of building BAM into a municipal market utility serving issuers, dealers, and investors,” said Seán W. McCarthy, BAM’s Chief Executive Officer. “We are thrilled to have him join our team.”

Mr. Keating’s career in municipal finance spans more than 35 years. He was most recently the Chief Operating Officer for Samuel A. Ramirez & Co., and previously spent most of his career at Bear Stearns & Co., where he managed all of the firm’s tax- exempt products. In addition to his professional achievements, Mr. Keating served as a member of the board of the Securities Industry and Financial Markets Association and was chairman of the Municipal Securities Rulemaking Board in 2001.

“I’ve always believed that you build a business around strong people, and I am incredibly impressed with the energy the people at BAM bring to delivering a good product and focusing on the needs of their clients,” said Mr. Keating. “I am looking forward to joining them and helping the company build on its impressive success to date.”

About Build America Mutual

BAM is a mutual bond insurance company operated for the benefit of its members – the cities, states and other municipal entities that use BAM’s financial guaranty to lower their cost of borrowing. BAM is sponsored by the National League of Cities. Through September 30, BAM has written more than 1,200 policies, insuring more than $10.3 billion of municipal securities, and guaranteed more than half of all insured new-issue bond sales in 2014. The present value of the savings it has delivered to issuers exceeds $100 million. Learn more at http://buildamerica.com/mission/

For more information, please contact:

Michael Stanton, Head of Corporate Strategy and Communications 212-235-2575; mstanton@buildamerica.com