Assured Guaranty adds three directors to its board

Assured Guaranty has elected Michelle McCloskey, Lorin P.T. Radtke and Courtney Shea to its board of directors.

The three new directors will take their seats from May 5, 2021, bringing the total number of board members to 13.

McCloskey and Shea will each serve on the board’s audit and environmental and social responsibility committees. Radtke will serve on its finance and risk oversight committees.

McCloskey has more than 35 years of experience in executive roles in the energy, financial trading and asset management sectors. She was most recently at Man Group, an investment management firm with assets in excess of $113 billion, serving as a member of its executive committee and as president of Man FRM. She also led Man Group’s diversity and inclusion network in the US. Before working at Man Group, McCloskey was a portfolio manager in the commodities sector for a variety of institutions.

Radtke is the co-founder and partner of venture capital firm M Seven 8. Before founding that business he spent 24 years in various senior positions with Goldman Sachs, eight years of which was as a partner. He also held positions including head of credit products, head of structured products and head of structured portfolio solutions. He also led a number of diversity development programmes.

Shea has had a 35-year career in US public finance, having served as both a municipal advisor and investment banker working with state and local governments, not-for-profits and universities. She recently served as the managing member of Columbia Capital Management, a national municipal advisory firm, before which she was an investment banker.

Francisco Borges, Assured Guaranty’s chairman, said: “These accomplished businesspeople bring a wealth of experience through their diverse backgrounds, complementing the skill sets and perspectives of our other distinguished directors as the board focuses on strategies for Assured Guaranty’s continued success.”

Dominic Frederico, chief executive officer and president of Assured Guaranty, added: “With their varied backgrounds in public finance, structured finance and investment management, their insights will be valuable to our company as we develop into a diversified financial services company with a dual focus on financial guaranty insurance and asset management.”