Bankrupt Ambac Names New GC, CEO Amid Departures

Law360, New York (June 15, 2011, 4:14 PM EDT) -- Ambac Financial Group Inc. on Monday announced that it had tapped a new general counsel and CEO following the resignations of the bankrupt New York-based bond insurer's top lawyer and executive.

With Ambac's general counsel, Kevin Doyle, set to leave the company July 29, the financial services company named its assistant general counsel, Stephen Ksenak, to fill the role.

Meanwhile, Ambac also announced CEO and President David Wallis' resignation, effective July 6. Wallis, who is also a director of Ambac Assurance Corp., will be replaced by...
To view the full article, register now.