Russell Brewer Becomes Senior Advisor to Assured Guaranty CEO
03 Januar 2022 - 10:15PM
Business Wire
Holly Horn Appointed Chief Surveillance
Officer
Jorge Gana Appointed Deputy Chief Risk
Officer and Chris Gibbons to Head Information
Technology
Russell B. Brewer II, Chief Surveillance Officer of Assured
Guaranty Ltd. (NYSE:AGO)(together with its subsidiaries, Assured
Guaranty or the Company) has become Senior Advisor to Chief
Executive Officer, Dominic Frederico, effective January 1, 2022. On
that same date, Holly Horn became the Company’s Chief Surveillance
Officer, Jorge Gana was named Deputy Chief Risk Officer, a newly
created position, and Chris Gibbons, the Company’s Chief Technology
Officer, assumed Mr. Brewer’s responsibilities as the head of
Information Technology.
“Russ Brewer and Holly Horn have worked closely together for
many years, further ensuring a smooth transition,” said Mr.
Frederico. “I cannot emphasize enough how much Russ has contributed
to the growth and development of Assured Guaranty and to me
personally. He has a long list of accomplishments on behalf of our
company and our industry, and we will benefit greatly from his
advice, insight and knowledge during 2022.”
Mr. Brewer’s 35-year tenure with the Company has been impactful
since the earliest days of Assured Guaranty Municipal’s predecessor
company, Financial Security Assurance (FSA). He played a key role
in FSA’s pioneering efforts to establish the use of financial
guarantees in structured finance transactions, and ultimately
became FSA’s Chief Risk Management Officer. He has led Assured
Guaranty’s surveillance efforts on the combined FSA and Assured
Guaranty insured portfolio since Assured Guaranty acquired FSA in
2009. He was instrumental in significantly mitigating RMBS losses
after the global financial crisis and in achieving important public
finance settlements, including those related to history’s two
largest U.S. municipal bankruptcies – Detroit and Puerto Rico. In
more recent years, Mr. Brewer assumed the added responsibility of
heading the Company’s Information Technology operations during a
period of major transformations that included integration and
updating of internal IT platforms to meet the needs of an
increasingly complex market and regulatory environment,
consolidation of acquired companies’ systems, and vastly
heightening cybersecurity.
As Assured Guaranty’s Chief Surveillance Officer – Public
Finance, Holly Horn has led the Public Finance Surveillance
department’s day-to-day operations and its remediation efforts on
the U.S. and international public finance portions of its insured
portfolio. She has had a major role in negotiations to bring Puerto
Rico’s Title III bankruptcy closer to resolution, and she
spearheaded the Company’s rapid response project to evaluate and
successfully mitigate the potential impact of the COVID-19 pandemic
on credits in the Company’s insured portfolio. In addition to
serving as Chief Surveillance Officer, Ms. Horn will chair the U.S.
Workout Committee and lead Assured Guaranty’s Government Affairs
activities.
In his new role, Jorge Gana will serve as Deputy Chief Risk
Officer and Deputy Chair of the U.S. Risk Management Committee and
will assume primary responsibility for the environmental aspect of
the Company’s ESG efforts. In his previous position of Senior
Managing Director, Workout and Government Affairs, he has had a
major role in the negotiations related to the Puerto Rico loss
mitigation effort and chaired the U.S. Workout Committee, on which
he will continue to serve, along with his memberships on the Public
Finance and Structured Finance Credit Committees. Mr. Gana will
continue his principal role in mitigating the Company’s insured
exposure to Puerto Rico. In earlier years, he led the Company’s
Asset-Backed Securities group.
As head of Information Technology, Chris Gibbons’
responsibilities will include information technology, business
operations and vendor management. He joined Assured Guaranty in
2020 as Chief Technology Officer and has managed technological
challenges of remote work during the pandemic and the technological
integration of Assured Investment Management into the Company. He
previously worked in Prudential’s Chief Investment Office, where he
was Chief Information Officer and Head of Technology and Business
Operations, and at Columbia University, where he was Chief
Technology Officer for the Graduate Business School.
Cautionary Statement Regarding Forward-Looking
Statements
Any forward-looking statements made in this press release
reflect Assured Guaranty’s current views with respect to future
events and are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements
involve risks and uncertainties that may cause actual results to
differ materially from those set forth in these statements. These
risks and uncertainties include risks and uncertainties that have
not been identified at this time, management’s response to these
factors, and other risk factors identified in Assured Guaranty’s
filings with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are made as of January 3, 2022. Assured Guaranty
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Assured Guaranty Ltd. is a publicly traded (NYSE: AGO)
Bermuda-based holding company. Through its subsidiaries, Assured
Guaranty provides credit enhancement products to the U.S. and
international public finance, infrastructure and structured finance
markets, and also provides asset management services. More
information on Assured Guaranty Ltd. and its subsidiaries can be
found at AssuredGuaranty.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220103005419/en/
Robert Tucker, 212-339-0861 Senior Managing Director, Investor
Relations and Corporate Communications rtucker@agltd.com Media:
Ashweeta Durani, 212-408-6042 Vice President, Corporate
Communications adurani@agltd.com
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