Lorin P.T. Radtke
ASSURED GUARANTYAbout Lorin P.T. Radtke
Independent director at Assured Guaranty Ltd. (AGO) since 2021; age 56. Co‑founder and partner of venture capital firm M Seven 8 (since 2017) following 24 years at Goldman Sachs, including eight years as Partner, with senior leadership roles across credit, mortgage and structured products; earned the CERT Certificate in Cybersecurity Oversight (Carnegie Mellon SEI) . Radtke currently chairs AGO’s Risk Oversight Committee and serves on the Environmental & Social Responsibility and Finance Committees; Board determined he is independent under NYSE rules (February 2025) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Goldman Sachs | Partner; Head of Mortgage & Structured Product Sales; leadership across Credit Products, Structured Products Distribution & Sourcing, Structured Portfolio Solutions, CLO Origination | 24 years; Partner for eight years; Head of Mortgage & Structured Product Sales during 2009–2014 | Led sales/marketing, portfolio solutions, and public advisory groups in FICC; significant experience in structured products and risk management |
| M Seven 8 LLC | Co‑founder and Partner | Founded 2017 | Investment management and alternative assets focus; venture capital leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lord Abbett Family of Funds | Director; Audit Committee member | Ongoing | Oversees fund financial reporting and audit matters; adds investment management oversight expertise |
| University of Wisconsin — Milwaukee School of Business | Director | Prior service | Contributed to academic governance and professional development initiatives |
| CERT Division, Carnegie Mellon SEI | CERT Certificate in Cybersecurity Oversight | Earned | Cyber oversight credential relevant to enterprise cyber risk governance |
Board Governance
- Committee assignments: Chair, Risk Oversight Committee (4 meetings in 2024); Member, Environmental & Social Responsibility Committee (4 meetings in 2024); Member, Finance Committee (4 meetings in 2024) .
- Independence: Board determined in Feb 2025 that all directors other than the CEO and one nominee are independent; all members of the Audit, Compensation, Nominating & Governance, Finance, ES, and Risk Oversight Committees are independent .
- Attendance: Board met four times in 2024; all current directors attended at least 75% of aggregate Board and committee meetings; all but one attended the May 2, 2024 AGM; executive sessions of non‑executive directors are held regularly .
- Risk oversight scope: Committee oversees risk appetite, underwriting, surveillance/workouts, and enterprise risks spanning financial, legal, operational (including IT/cyber/data privacy/vendor management), governance/reputation/ethics across insurance and asset management segments .
Fixed Compensation
| Component (2024) | Amount (USD) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $180,000 | Aggregated cash fees paid in 2024 |
| Share Awards (grant‑date fair value) | $145,000 | Annual restricted shares; at least $145,000 paid in shares per policy |
| All Other Compensation | $27,504 | Matching gifts and limited reimbursements (e.g., spousal travel, U.K. tax prep) |
| Total | $352,504 | Sum of components |
- Non‑executive director retainer: $265,000 per term, paid at least $145,000 in restricted shares and $120,000 in cash; directors may elect up to 100% of retainer and committee fees in restricted shares .
- Committee fee schedule: Chair of Risk Oversight (and ES, Finance, NG) $30,000; committee member $15,000; Audit/Compensation chairs $40,000; Board chair $225,000; no Executive Committee fees; no meeting fees in 2024 for extraordinary/special meetings .
- Ownership guideline: Minimum $600,000 in AGO common shares (5× maximum cash portion of annual retainer); Mr. Radtke is currently accumulating toward the guideline .
Performance Compensation
| Award Type | Performance Metric(s) | Vesting | Dividends & Voting | Change‑in‑Control / Death/Disability Treatment |
|---|---|---|---|---|
| Restricted Shares (Directors) | None (time‑based; no performance conditions) | Vests the day immediately prior to the next AGM following grant | Dividends accrue and are paid upon vesting; shares have voting rights during vesting | Accelerated vesting upon change in control (as defined in 2024 LTIP) or termination due to death/disability |
AGO’s director program uses time‑based restricted shares only; no stock options or PSUs for non‑executive directors are disclosed .
Other Directorships & Interlocks
| Company/Entity | Type | Overlap/Interlock | Notes |
|---|---|---|---|
| Lord Abbett Family of Funds | Registered investment company | None disclosed with AGO | Radtke serves on Audit Committee; no related‑person transactions disclosed involving Radtke . |
- Related‑person transactions: 2024 disclosures include Wellington (investment manager to AGO) and BlackRock (reporting module) and an Ursano/IAP engagement; no transactions were disclosed involving Radtke .
Expertise & Qualifications
- Investment management, structured products marketing, client franchise development, and risk management; leadership during/post‑2008–09 financial crisis (Head of Mortgage & Structured Product Sales 2009–2014) .
- Cybersecurity oversight credential (CERT), aligning with committee oversight of IT/cyber risks .
Equity Ownership
| Holder | Common Shares Beneficially Owned | Unvested Restricted Common Shares | RSUs |
|---|---|---|---|
| Lorin P.T. Radtke | 6,456 | 1,725 | — |
| Notes | None of the directors (other than CEO) beneficially owns ≥1% of AGO; ownership guideline requires $600,000; Radtke is accumulating toward guideline | Unvested restricted shares carry voting rights; dividends accrue and are paid upon vesting | Director RSUs not disclosed |
| Citations |
- Anti‑hedging: Directors and employees are prohibited from hedging AGO shares .
- Anti‑pledging: Pledging prohibited without approvals; as of March 19, 2025, no director or executive officer has pledged AGO shares .
Governance Assessment
- Strengths: Independent director with deep structured products and risk management expertise; chairs Risk Oversight Committee with comprehensive enterprise risk remit; holds cybersecurity oversight credential; strong board independence and committee independence framework; ≥75% meeting attendance for all directors; robust director ownership guideline; anti‑hedging/anti‑pledging protections .
- Alignment: Receives a meaningful equity component via restricted shares; time‑based vesting with dividend accrual and voting rights; accumulating toward $600,000 ownership guideline supports “skin‑in‑the‑game” trajectory .
- Potential watch‑items: Guideline not yet met (explicitly identified as “accumulating”); director equity is time‑based (no performance conditions), common across peers but provides less direct pay‑for‑performance linkage than PSUs; continue monitoring for any related‑person transactions or pledging—none disclosed for Radtke to date .
Process note: Attempted to fetch Form 4 insider transactions for “Radtke” (AGO) using the insider‑trades skill for 2024–2025; request returned HTTP 401 Unauthorized, so current Form 4 data could not be retrieved programmatically. Beneficial ownership and unvested shares are disclosed above from the 2025 proxy .