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Ambac appoints Claude LeBlanc as president and CEO

Claude LeBlancAmbac Financial Group, a holding company, announced the appointment of Claude LeBlanc as president and chief executive officer of Ambac, effective 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.

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Mr. LeBlanc will depart as Chief Financial Officer and Chief Restructuring Officer of Syncora Holdings Ltd., effective December 31, 2016, consistent with Syncora's announced succession plan.

In this role, which he has held since 2010, he actively led global remediation and asset recovery initiatives, evaluated strategic alternatives for the company and oversaw the finance and risk functions.

Mr. LeBlanc also led Syncora's recent and successful restructuring and securities exchange offer transaction. He previously served as Special Advisor to Syncora's Board of Directors beginning in 2008.

Mr. LeBlanc joined Syncora in 2006 as Executive Vice President and was responsible for all corporate development activities, strategic development, capital planning, and management of key bank and rating agency relationships.

Prior to joining Syncora, he served as Senior Vice President of Corporate Development and Strategy and as a member of the executive management group for XL Capital Ltd.

Prior to joining XL Capital in 2002, he served as Chief Operating Officer and a member of the executive management team for Transworld Network International, a North American telecommunications group where he led corporate development, financial planning, and certain business operations.

Mr. LeBlanc began his career in 1991 at PricewaterhouseCoopers and later served as Vice President of Financial Advisory Services in 1997 when he advised on mergers and acquisitions, corporate restructurings, and transaction advisory.

He succeeds Nader Tavakoli, who has resigned from his roles as President and CEO and as a Director of Ambac to pursue other opportunities.


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