News

NEW YORK – Build America Mutual today announced that its Board of Directors elected Clarence Anthony, Chief Executive Officer of the National League of Cities, as Chairman of the Board, succeeding Manning Rountree, Chief Executive Officer of White Mountains Insurance Group, Ltd.  Mr. Rountree has served on BAM’s Board since 2016 and will continue to serve as a Director.

“Cities and other municipal bond issuers do the work of maintaining and expanding America’s essential infrastructure, and BAM’s guaranty helps them achieve reliable, low-cost access to the capital markets to make it happen,” Mr. Anthony said. “I know how seriously the BAM team takes its mission to serve its member-issuer and investor stakeholders. I look forward to building on the foundation Manning and others helped lay and continuing to support BAM’s growth in my role as Chairman.”

“BAM exists solely to serve U.S. municipal bond issuers and investors, and they are focused on exactly the same issues that Clarence Anthony has helped address throughout his career: Helping to build strong, sustainable communities and infrastructure nationwide,” said Seán W. McCarthy, Chief Executive Officer of BAM. “We’ve benefitted from his perspective on our Board since 2019, and look forward to his continuing input as we serve more communities that are investing in critical projects.”

Mr. Anthony has led the NLC since 2013, representing more than 2,000 cities and towns across the country. Under his leadership, NLC delivered billions of dollars in direct, flexible federal relief to help support local governments respond, recover, and rebuild from the COVID-19 pandemic. NLC also ushered passage of the Infrastructure Investment and Jobs Act, delivering transformative investments in transportation, broadband, and water to communities across the country. He previously served as the Mayor of South Bay, Florida.

About Build America Mutual

Domiciled in New York, BAM is a mutual bond insurance company operated for the benefit of its members – cities, states, and other municipal entities – that use BAM’s financial guaranty to enhance the credit strength of their bond issues.  Through June 30, 2023, BAM has insured more than $127 billion of municipal bonds in more than 14,000 primary and secondary-market transactions. BAM-insured bonds are rated AA with a Stable outlook by S&P Global Ratings, and BAM is the preferred provider of bond insurance for members of the National League of Cities.

For more information, please contact:

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