Assured Guaranty has appointed David A Buzen as senior managing director of its newly formed alternative investments group.
Buzen was previously president and chief executive officer of CIFG Holding.
Additionally, Stan Cotek, formerly treasurer and managing director of finance and IT systems at CIFG, has joined the alternative strategies group as managing director, and Robert M Forant, formerly chief operating officer of AIG Global Risk Solutions & Multinational, has joined as director.
“We have known and worked with Dave Buzen for many years and seen his leadership ability in a variety of financial settings in and out of the financial guaranty industry. He is one of the best people we could have found to lead the development of our alternative investments group,” says Dominic Frederico, president and chief executive officer. “We’re also pleased to welcome onto his team two experienced, highly skilled professionals, Stan Cotek and Robert Forant.”
The alternative investments group will focus on deploying a portion of Assured Guaranty’s excess capital to pursue acquisitions and develop new business opportunities that benefit from the company’s core competencies and credit expertise and are in line with its risk profile. As of 31 March 2016, Assured Guaranty’s shareholders’ equity totalled USD6.1 billion, and it had USD11.2 billion of assets in its investment portfolio.
“Assured Guaranty has successfully executed alternative strategies to build shareholder value while protecting the financial strength of its core financial guaranty business,” says Buzen. “I’m excited to lead a department dedicated to finding and implementing more of these opportunities.”