Tom Vales Joins BAM Board of Directors
BAM Mutual has recently announced an exciting addition to their Board of Directors, as municipal bond trading expert, Tom Vales, takes on the role of an independent director. His extensive background in electronic trading positions him uniquely to represent the interests of BAM’s municipal issuer members effectively.
Expertise in Municipal Bond Trading
Vales brings with him a wealth of experience from his previous role as the Chief Executive Officer of TMC Bonds, a leading platform in municipal bond electronic trading. His tenure at TMC Bonds ended when the company was acquired by the Intercontinental Exchange in 2019, showcasing his ability to navigate complex financial landscapes.
Commitment to Transparency and Efficiency
In his new position, Vales is poised to focus on enhancing market transparency and efficiency. Seán W. McCarthy, BAM’s CEO, expressed confidence in Vales’s unique insights into the market, noting, “Tom's career has been about making fixed-income markets more transparent and efficient.” This mindset aligns perfectly with BAM's commitment to protecting investors while optimizing market access for issuers.
Vales’s Vision for Electronic Trading
Tom Vales is enthusiastic about collaborating with BAM to bolster their vision for electronic trading. He remarked, “Over my career, BAM was an amazing partner for expanding the ease of use of online bond insurance.” His vision is to bring added liquidity and transparency to the insured marketplace, reflecting the evolving needs of investors and issuers alike.
A Leadership Transition
Vales takes over the post following John White, who had been a respected member of BAM’s Board since 2017 and is known for his tenure as the former CEO of PFM Financial Advisors. White's contributions were instrumental during his time, and McCarthy acknowledged his extensive experience as an essential asset for BAM.
About BAM Mutual
BAM Mutual, headquartered in New York, operates as a mutual bond insurance company offering benefits to its members, including cities and states. Through its financial guarantees, BAM enhances the credit strength of various bond issues, demonstrating a strong commitment to municipal finance. Since its inception, BAM has insured over $155 billion in municipal bonds, solidifying its reputation within the sector.
Enhanced Credit Strength and Ratings
BAM-insured bonds are rated AA with a Stable outlook by S&P Global Ratings, reinforcing trust and reliability among its issuer members. Furthermore, BAM stands out as the preferred provider of bond insurance for members of the National League of Cities, underlining its significant role in the municipal bond market.
Frequently Asked Questions
Who is Tom Vales?
Tom Vales is a municipal bond electronic trading expert and the newly appointed independent director of BAM Mutual.
What experience does Tom Vales bring to BAM?
Vales has extensive experience, including his previous role as CEO of TMC Bonds and leadership positions at major financial institutions.
What role does BAM Mutual play in municipal finance?
BAM is a mutual bond insurance company that supports municipalities by enhancing the credit strength of their bond issues.
What was John White's role at BAM?
John White served as an independent director representing the interests of BAM's municipal issuer-members before retiring.
What are the ratings of BAM-insured bonds?
BAM-insured bonds are rated AA with a Stable outlook by S&P Global Ratings, highlighting their reliability.
