BAM Announces New Hires and Promotions

NEW YORK, April 12, 2013

Build America Mutual today announced four new hires and internal moves to enhance the underwriting and new business efforts of its growing municipal bond insurance business, according to Seán W. McCarthy, Managing Director and Chief Executive Officer of BAM.

Bryan R. Baebler joins BAM as Vice President, Capital Markets with responsibility for BAM’s competitive and negotiated business. He joins from Barclays, where he was a Vice President on the Municipal Primary Syndicate Desk.

Moving from Assured Guaranty to BAM are: Brian Siper, who joins the Legal Department as Associate Counsel, and Andrew Bevan, who joins as a Vice President in the Public Finance, East Group. Mr. Siper was formerly Counsel at Assured Guaranty, and Mr. Bevan was formerly a Managing Director in Assured’s Sydney, Australia office.

Kathryn E. Byrnes also joins BAM as Vice President in the Corporate Communications Department. She joins from Marsh, Inc., where she was a Vice President and Communications Manager.

Additionally, Elizabeth (Betsy) Hill has become BAM’s Deputy Credit Officer. Formerly she was the Company’s Head of Surveillance. Filling her previous role is Michael Weinstein, who was Vice President of Surveillance.

“These additions and promotions will significantly add to BAM’s new business effort and operational strengths as we continue to expand our municipal financial guaranty business,” said Mr. McCarthy. BAM currently has approximately 60 employees at its New York headquarters and San Francisco offices.

About BAM

Domiciled in New York, BAM is the first mutual monoline insurer of municipal bonds, exclusively. As a mutual bond insurance company, BAM is 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 rated AA/Stable by Standard & Poor’s Ratings Services and is sponsored by the National League of Cities. BAM’s website is buildamerica.com.

For further information, please contact:

Betsy Castenir, Head of Corporate Communications 212.257.6148