April 24, 2017 1:59 PM ET


Company Overview of Ambac Assurance Corporation

Company Overview

Ambac Assurance Corporation operates as a guarantor of public finance and structured finance obligations. It provides financial guarantees to clients in the public and private sectors. The company also writes financial guarantees in Europe. Ambac Assurance Corporation was formerly known as AMBAC Indemnity Corporation and changed its name to Ambac Assurance Corporation in July 1997. The company was founded in 1971 and is based in New York, New York. Ambac Assurance Corporation operates as a subsidiary of Ambac Financial Group, Inc.

One State Street Plaza

New York, NY 10004

United States

Founded in 1971





Key Executives for Ambac Assurance Corporation

Chief Executive Officer, President and Director
Age: 50
Chief Financial Officer, Executive Vice President and Treasurer
Age: 44
Principal Accounting Officer, Senior Managing Director and Controller
Age: 49
Senior Managing Director and General Counsel
Age: 50
Managing Director of Investor Relations and Corporate Communications
Compensation as of Fiscal Year 2016.

Ambac Assurance Corporation Key Developments

Ambac Assurance Corporation Announces Board Changes

Ambac Financial Group Inc. announced the appointment of Claude LeBlanc as President and Chief Executive Officer of Ambac, effective as of January 1, 2017. Mr. LeBlanc, a seasoned financial services executive with more than 25 years of experience in structured finance, debt and equity capital markets, business restructuring and capital management, will also join the Ambac Board of Directors. He succeeds Nader Tavakoli, who has resigned from his roles as President and CEO and as a Director of Ambac, effective immediately, to pursue other opportunities. The company has entered into a separation agreement with Mr. Tavakoli, pursuant to which the term of his employment will end on December 31, 2016.

Ambac Assurance Corporation Announces Management Changes

Ambac Financial Group Inc. (Ambac), a holding company whose subsidiaries, including Ambac Assurance Corporation (AAC), announced leadership changes at AAC. Nader Tavakoli, President and Chief Executive Officer of Ambac has been appointed as President and Chief Executive Officer of AAC. Jeffrey S. Stein, Chairman of the Board of Ambac, has been appointed as Chairman of the Board of AAC. David Trick, Chief Financial Officer and Treasurer of Ambac and AAC, previously held the role of interim President and Chief Executive Officer of AAC.

Ambac Financial Group, Inc. and Ambac Assurance Corporation Announce Retirement of Iain H. Bruce, Senior Managing Director

Ambac Financial Group, Inc. and Ambac Assurance Corporation and Iain H. Bruce, Senior Managing Director of Ambac and Ambac Assurance, have mutually agreed that Mr. Bruce will retire from the Company at the close of business on September 4, 2015.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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