RangeMark to Become Independently-Owned Enterprise
RangeMark Financial Services, Inc. (RangeMark), a subsidiary of Ambac Financial Group, Inc. (“AFGI”), today announced that it has initiated a process to separate from AFGI and operate as an independent company. RangeMark, an advisory, investment management and capital markets firm, was launched in September 2009 following AFGI’s acquisition of NSM Capital Management.
RangeMark’s CEO, Robert Smith, said “We believe that establishing RangeMark as an independent enterprise is in the best interest of both our clients and our new business initiatives. The need for understanding and strategically managing portfolio risk has never been more critical. RangeMark’s robust analytics and credit-risk expertise can bring tremendous value to investors and other fixed income market participants.”
More About RangeMark
RangeMark Financial Services, Inc., headquartered in Greenwich, CT, provides advisory, investment management, credit risk management and capital markets services through its affiliates: RangeMark Solutions, Inc., RangeMark Investment Management, Inc., and RangeMark Capital Markets, Inc.
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