Ben O'Malley

BY SourceMedia | MUNICIPAL | 09/30/25 09:10 AM EDT

Title: Assistant VP
Firm: Build America Mutual
Age: 29

After graduating from the University of North Carolina-Chapel Hill in 2018, Ben O'Malley joined BAM as an analyst in a two-year rotational program. "He was a standout analyst from day one. Today, he continues to steadily build his municipal credit experience and network," said Juliet Stiehl, co-head of public finance at BAM.

As an underwriter, O'Malley has worked on multiple deals that have earned him accolades, including being the lead bond insurance analyst on the Greater Texoma Utility Authority water and wastewater financing which was recognized as the Bond Buyer's Small Issuer Financing Deal of the Year in 2023.

This was one of several utility bond transactions that are being used to finance water and wastewater infrastructure as it related to several semiconductor manufacturing facilities in Sherman, Texas.

"These plants are going to play a significant role in the U.S.'s technological supply chain over the next decade. They will sustain the country's economic growth on a larger scale," said O'Malley.

"One of the bigger evolutions in my role at BAM has been taking on the full leadership of our on-campus, two-year analyst training program and summer internship," said O'Malley. "Municipal finance ? especially bond insurance ? is pretty niche, so BAM's management realizes we need to be proactive in introducing the industry to young professionals. I am a graduate of the program myself, so I take a lot of pride in this work."

Going forward, O'Malley is excited to see how the United States continues to handle all of its mounting infrastructure needs. "You can open any newspaper on any given day and find some discussion relating to the infrastructure requirements across the nation. I am looking forward to spending my career helping to finance some of these critical projects," he said.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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