The Guarantee Company of North America (The Guarantee) has announced the appointment of Frank Faieta as national vice president, surety innovation and risk solutions. Concurrent to his new role, Faieta will also retain his present position as national vice president, surety and credit claims at The Guarantee.

A 27-year surety industry veteran, Faieta joined The Guarantee in 1992 and was the architect of the Surety Association of Canada’s (SAC) ‘SAC Headstart Subcontractor Performance Bond’ product, which is currently in use in the marketplace. He was also chair of The Guarantee’s product innovation council between 2013 and 2016, and was the recipient of SAC’s President’s Award in 2018.

In his new role, Faieta will be part of the surety underwriting team in the Toronto head office, with national responsibility for underwriting contracts and developing bond wordings for AFP/P3 projects in collaboration with broker partners and contractor clients, as well as developing other innovative contract surety solutions for the Canadian surety division.

Faieta is a licensed professional engineer having graduated with a degree in civil engineering from University of Toronto, and is a member of Professional Engineers Ontario. He has an MBA from the Schulich School of Business and also holds the designation of Chartered Insurance Professional.