Executive Officers

Dominic J. Frederico, President and Chief Executive Officer

Dominic Frederico has been a director of Assured Guaranty Ltd. since our 2004 initial public offering, and the President and Chief Executive Officer of Assured Guaranty Ltd. since December 2003.

During his tenure as President and Chief Executive Officer, Assured Guaranty became the leading provider of municipal bond insurance and financial guarantees. Under his leadership, Assured Guaranty completed its initial public offering in 2004 and, in 2009, acquired the financial guaranty insurance company now named Assured Guaranty Municipal, thereby merging the only two monoline insurers to continue writing policies before, during and after the 2008 financial crisis. In the following years, he led our acquisition of a number of the remaining legacy financial guaranty insurance companies or their portfolios, expanding our reach, consolidating industry capital and solidifying our position as the leader in the financial guaranty industry. More recently, he is leading our expansion into asset management, which we believe will provide us with a new revenue source, reduce the volatility of our earnings and create another avenue for growth.

Mr. Frederico served as Vice Chair of ACE Limited (now known as Chubb Limited) from 2003 until 2004 and served as President and Chief Operating Officer of ACE Limited and Chair of ACE INA Holdings, Inc. from 1999 to 2003. Mr. Federico was a director of ACE Limited from 2001 through May 2005. From 1995 to 1999, Mr. Federico served in a number of executive positions with ACE Limited, during which period he oversaw the successful acquisition and integration of the domestic and international property casualty operations acquired by ACE from CIGNA Corporation in July 1999 and the acquisition of Capital Re Corp., the predecessor company to Assured Guaranty, in December 1999..

Prior to joining ACE Limited, Mr. Frederico spent 13 years working for various subsidiaries of the American International Group. His last position at the group was Senior Vice President and Chief Financial Officer of AIG Risk Management.

Mr. Frederico is a member of the Amynta Group Advisory Board.

Robert A. Bailenson, Chief Operating Officer

Mr. Bailenson is Chief Operating Officer of Assured Guaranty Ltd. and certain of its subsidiaries, a position he has held since January 1, 2024. Mr. Bailenson was Chief Financial Officer of Assured Guaranty Ltd. from June 2011 through December 2023. From March 2005 to June 2011, Mr. Bailenson was Managing Director and Chief Accounting Officer of Assured Guaranty Ltd. He was the Chief Accounting Officer of Assured Guaranty Corp. from October 2003 to March 2005 and was Chief Financial Officer and Treasurer of Assured Guaranty Re Ltd. from 1999 until 2003. He was previously the Assistant Controller of Capital Re Corp., which was acquired by ACE Limited in 1999. Prior to joining Assured Guaranty in 1990, Mr. Bailenson was with Ernst & Young LLP.

Mr. Bailenson holds a Bachelor of Science in Business and Economics from Lehigh University. He is a Certified Public Accountant in the State of New York, and is a member of the American Institute of Certified Public Accountants.

Benjamin G. Rosenblum, Chief Financial Officer

Mr. Rosenblum is Chief Financial Officer of Assured Guaranty Ltd. and certain of its subsidiaries, a position he has held since January 1, 2024. Mr. Rosenblum was Chief Actuary of Assured Guaranty Ltd. from 2021 through December 2023, and also Chief Actuary of Assured Guaranty Municipal Corp. and Assured Guaranty Corp. since 2010. He joined Assured Guaranty in 2004, responsible for the loss reserve function at Assured Guaranty Re Ltd. and Assured Guaranty Re Overseas Ltd., later assuming the same responsibilities at Assured Guaranty UK Limited and at Assured Guaranty (Europe) SA. In 2015, he was named Senior Managing Director in charge of Insurance Accounting and Financial Reporting.

Mr. Rosenblum holds a Bachelor of Actuarial Science from the College of Insurance (now the School of Risk Management, Insurance and Actuarial Science at St. John’s University).

Ling Chow, General Counsel and Secretary

Ling Chow has been General Counsel and Secretary of AGL since January 1, 2018. She is responsible for legal affairs and corporate governance at the Company, including its litigation and other legal strategies relating to distressed credits, and its corporate, compliance, regulatory and disclosure efforts. She is also responsible for the Company’s human resources function. Ms. Chow began her tenure at the Company in 2002 as a transactional attorney, working on the insurance of structured finance and derivative transactions. She previously served as Deputy General Counsel and Assistant Secretary of AGL from May 2015 and as Assured Guaranty’s U.S. General Counsel from June 2016. Prior to that, Ms. Chow served as Deputy General Counsel of Assured Guaranty’s U.S. subsidiaries in several capacities from 2004.

Before joining Assured Guaranty, Ms. Chow was an associate at law firms in New York City, where she was responsible for transactional work associated with public and private mergers and acquisitions, venture capital investments, and private and public securities offerings.

Ms. Chow received a J.D. from New York University School of Law and graduated magna cum laude from Harvard College.

Stephen Donnarumma, Chief Credit Officer

Stephen Donnarumma is a senior managing director and chief credit officer for the Assured Guaranty companies, with responsibility for overseeing the underwriting process. Mr. Donnarumma joined Assured Guaranty in 1993 and was previously the managing director of the Mortgage and Asset-Backed Securities Group. He has also served as the chief underwriting officer and chief operating officer of Assured Guaranty Mortgage Insurance Company, chief operating officer of Assured Guaranty Re Ltd., and chief risk officer of Assured Guaranty Corp.

Previously, Mr. Donnarumma served as vice president, structured finance, at Financial Guaranty Insurance Company and as director of Credit Risk Analysis in the Credit Policy Division at Fannie Mae. He began his career as an analyst for Moody's Investors Service.

Mr. Donnarumma received an M.B.A. from The Stern School of Business at New York University. He has a B.S. from the Wharton School of the University of Pennsylvania.

Jorge Gana, Chief Risk Officer

Jorge Gana has been Chief Risk Officer of AGL and Chair of the U.S. Risk Management and Portfolio Risk Management Committees since January 1, 2023. Mr. Gana also maintains primary responsibility for the environmental aspect of Assured Guaranty’s ESG efforts. Prior to that, Mr. Gana served as Deputy Chief Risk Officer of AGM and AGC. Mr. Gana joined Assured Guaranty in 2005 as a Director in structured finance. Over the years, Mr. Gana has held a number of positions at Assured Guaranty, including Managing Director, Structured Finance at AGC, Senior Managing Director of Workouts and Government & Corporate Affairs at AGM and AGC, and chair of AGM's and AGC's Workout Committees. Mr. Gana continues to serve as a voting member of AGM's and AGC's Credit and Workout Committees.

Prior to joining Assured Guaranty, Mr. Gana served as a Director of Global Commercial Asset Securitization for XLCA (now Syncora). Prior to XLCA, Mr. Gana worked at Natexis Banques Populaires (now Natixis) and at Banco Santander in global capacities dealing with credit and risk, managing investment portfolios, originating complex transactions, and issuing repackaged debt. Mr. Gana also worked for the Chile Economic Development Agency, New York Office, and as Editor of the Chile Economic Report until 1996.

Mr. Gana holds an M.B.A in finance from New York University’s Stern School of Business and a Bachelor’s degree in international studies from Johns Hopkins University.

Holly Horn, Chief Surveillance Officer

Holly Horn has been Chief Surveillance Officer of AGL since January 2022. Previously, Ms. Horn served as Chief Surveillance Officer, Public Finance where she was responsible for ongoing surveillance, monitoring and loss mitigation of municipal risks insured by the Company across all sectors of the municipal market. Prior to that, she was a director in AGM’s health care surveillance group and a director in AGM’s health care underwriting group, where she was responsible for analyzing and recommending the insurability of health care credits.

Ms. Horn began her public finance career at Inova Health System, a nationally ranked integrated health care delivery system and subsequently served as a senior manager for the national health care strategy practice at Ernst & Young.

Ms. Horn holds a Master of Health Services Administration from George Washington University and a B.S. in education from Bowling Green State University.