BAM Mutual Strengthens Team with Veteran Leaders to Enhance Public-Private Partnerships
NEW YORK–BUSINESS WIRE
BAM Mutual, a pioneering mutual bond insurer committed to lowering financing costs for essential infrastructure in the U.S., Australia, and New Zealand, has welcomed seasoned industry leaders Cherian George and Andrew Palmer to its team. These credit experts aim to bolster support for public-sector borrowers engaged in public-private partnerships (PPPs) across various critical projects, including housing, transportation, and electric power facilities.
Enhancing Infrastructure Financing with BAM Mutual
“BAM’s member-issuers are increasingly leveraging PPP structures to manage risks and expedite the development of new infrastructure,” stated BAM CEO Seán W. McCarthy. He emphasized that integrating BAM’s AA/Stable guaranty into these transactions provides investors with the assurance of timely repayments. This, in turn, enhances market liquidity and significantly reduces costs for issuers by broadening their investor base.
Senior Advisor for Project Finance: Cherian George
In his new role as Senior Advisor for Project Finance, Cherian George brings extensive experience from his tenure as the Global Head of Infrastructure and Project Finance at Fitch Ratings. Additionally, he has served as the Assistant Comptroller and CFO for Tunnels, Bridges, and Terminals at the Port Authority of New York and New Jersey.
“BAM has established a remarkable history of financing over $165 billion in essential infrastructure,” George noted. “I’m eager to contribute to identifying the next wave of infrastructure projects that can leverage BAM’s unique financing solutions.”
International Underwriting Head: Andrew Palmer
Andrew Palmer joins BAM Mutual to lead underwriting efforts for the company’s international operations in Australia and New Zealand. His most recent position was Managing Director within the Global Analytics and Methodologies division at S&P Global Ratings. Palmer also held senior roles in S&P’s project and infrastructure finance, structured finance, and risk consulting divisions. His extensive background includes key project finance positions at HSBC Securities and the Australia & New Zealand Banking Group.
“BAM’s dedication to essential public infrastructure aligns perfectly with the investment goals of the region,” Palmer remarked. “Accessing an unconditional guarantee is a transformative step, enabling borrowers and investors to align their capital structures with the long-term needs of infrastructure assets.”
Record Growth in PPP Transactions
The increasing volume of PPP transactions has led to an unprecedented pace for BAM-insured par in both the primary and secondary markets in 2025. Recently insured projects include bonds financing a new student housing complex at the University of Washington and the New Terminal One at New York’s JFK International Airport.
About BAM Mutual
BAM Mutual operates as a mutual bond insurance company, focusing on the interests of its members—those sponsoring vital infrastructure projects such as roads, airports, schools, and utilities. As of June 30, 2025, BAM has insured more than $165 billion in long-term securities, serving over 6,250 bond issuers, and holds an AA rating with a Stable outlook from S&P Global Ratings.
Contact Information
For additional details or inquiries, please get in touch with:
Michael Stanton
Head of Corporate Strategy and Communications
+1-212-235-2575
Email Michael Stanton
This article positions BAM Mutual at the forefront of infrastructure financing through strategic leadership appointments and highlights their commitment to enhancing the effectiveness of public-private partnerships across crucial sectors.
