Robert A Bailenson will be appointed chief operating officer of Bermudian-based bond insurer Assured Guaranty Ltd effective on January 1.

Chief actuary Benjamin G Rosenblum will succeed Mr Bailenson as chief financial officer.

Dominic J Frederico, president and chief executive officer, said: “Assured Guaranty has a deep, highly experienced, and well-established senior management team, and these promotions further reinforce the core of Assured Guaranty’s steady leadership.

“Rob and Ben have each been with the company for many years and have an extensive understanding of our strategies, markets, business practices, and the unique characteristics of the financial guaranty business.

“We are taking these steps now to elevate them in recognition of their talents and contributions to the company and to leverage their leadership abilities in pursuit of our strategic objectives.”