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Ambac Financial Group Inc (AMBC.OQ)

AMBC.OQ on NASDAQ Stock Exchange Global Select Market

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Summary

Name Age Since Current Position

Jeffrey Stein

47 2015 Independent Chairman of the Board

Claude LeBlanc

51 2017 President, Chief Executive Officer, Director

David Trick

45 2016 Chief Financial Officer, Executive Vice President, Treasurer

Robert Eisman

49 2010 Chief Accounting Officer, Senior Managing Director, Controller

Michael Reilly

60 2012 Chief Administrative Officer, Chief Information Officer, Senior Managing Director

Stephen Ksenak

51 2011 General Counsel, Senior Managing Director

David Barranco

46 2012 Senior Managing Director

Robert Smith

52 2017 Senior Managing Director, Chief of Staff

Alexander Greene

58 2015 Independent Director

Ian Haft

46 2016 Independent Director

David Herzog

57 2016 Independent Director

Claude Prieur

66 2016 Independent Director

David Weissman

2017 Managing Director

Biographies

Name Description

Jeffrey Stein

Mr. Jeffrey S. Stein is Independent Chairman of the Board of the Company. He is Founder and Managing Partner of Stein Advisors LLC, a financial advisory firm that provides consulting services to institutional investors. Mr. Stein is an investment professional with over 24 years of experience in the high yield, distressed debt and special situations equity asset classes who has substantial experience investing in the financial services industry. Previously Mr. Stein was Co-Founder and Principal of Durham Asset Management LLC, a global event-driven distressed debt and special situations equity asset management firm. From January 2003 through December 2009 Mr. Stein served as the Co-Director of Research at Durham responsible for the identification, evaluation and management of investments for the various Durham portfolios. From July 1997 to December 2002 Mr. Stein served as a Director of Research at The Delaware Bay Company, Inc., a boutique research and investment banking firm focused on the distressed debt and special situations equity asset classes. From September 1991 to August 1995, Mr. Stein was an Associate/Assistant Vice President at Shearson Lehman Brothers in the Capital Preservation & Restructuring Group. Mr. Stein currently serves as a director on the Boards of Dynegy Inc. (NYSE: DYN) and Westmoreland Coal Company (NYSE: WLB). Mr. Stein previously served as a director on the Boards of US Power Generating Company and KGen Power Corporation. Mr. Stein received a B.A. in Economics from Brandeis University and an M.B.A. with Honors in Finance and Accounting from New York University.

Claude LeBlanc

Mr. Claude L. LeBlanc is President, Chief Executive Officer, Director of the Company. He was the Chief Financial Officer and Chief Restructuring Officer of Syncora Holdings Ltd., until December 24, 2016. In these roles, which he held since 2010, he actively led global remediation and asset recovery initiatives, evaluated strategic alternatives for Syncora and oversaw all aspects of the finance function. He also served as Special Advisor to Syncora’s Board of Directors beginning in 2008. As Special Advisor, he led the successful restructuring of Syncora during the 2008-2009 financial crisis and again in its 2016 restructuring. 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, Mr. LeBlanc served as Senior Vice President of Corporate Development and Strategy and as a member of the executive management group for XL Capital Ltd. In this role, he led various global corporate development initiatives, oversaw and managed significant capital market transactions, and, reporting to the Chief Financial Officer and Chief of Staff, was responsible for global strategy development and capital management. 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. Mr. LeBlanc holds a BA in Economics from York University, a B.Com from the University of Windsor and an MBA from the Schulich School of Business. He is a Chartered Accountant and Certified Public Accountant.

David Trick

Mr. David Trick is Chief Financial Officer, Executive Vice President, Treasurer of the Company. He was interim President and Chief Executive Officer of AAC from January 2015 until March 2016. As Chief Financial Officer, Mr. Trick has executive responsibility for managing Ambac’s financial affairs, including financial reporting, asset and liability management, investment management, financial planning, tax strategy, capital resources, operations, capital markets, liquidity and investor relations. In addition, since May 2006, he has served as Treasurer of Ambac and AAC. Since September 2015, Mr. Trick has served as an Executive Director of Ambac Assurance UK Limited. Mr. Trick joined Ambac in 2005 from The Bank of New York Mellon, where he was a senior banker responsible for delivering strategic solutions to insurance industry clients, including those in the financial guaranty industry, with regard to a broad range of treasury, credit, and capital markets products.

Robert Eisman

Mr. Robert Bryan Eisman is Chief Accounting Officer, Senior Managing Director, Controller of the Company. He has executive responsibility for managing Ambac’s financial reporting in compliance with SEC and other regulatory requirements and establishing Ambac’s GAAP and statutory accounting policies. Since August 2010, Mr. Eisman has served as a Director of Ambac Assurance UK Limited, Ambac’s international financial guarantee subsidiary. Mr. Eisman joined Ambac in 1995 from KPMG LLP where he was an Audit Manager in the Financial Services group with a specialization in insurance companies.

Michael Reilly

Mr. Michael Reilly is Chief Administrative Officer, Chief Information Officer, Senior Managing Director of the Company. He has executive responsibility for managing Ambac’s Administrative Office. From October 2009 to January 2012, he was Managing Director with the responsibility for managing the General Technology and Datacenter Operations. Mr. Reilly joined Ambac in 2009.

Stephen Ksenak

Mr. Stephen M. Ksenak is General Counsel, Senior Managing Director of the Company. He has executive responsibility for managing Ambac’s legal affairs. From January 2010 to July 2011, Mr. Ksenak served as Managing Director and Assistant General Counsel of Ambac and AAC. From January 2005 to January 2010, Mr. Ksenak served as First Vice President and Assistant General Counsel of Ambac and AAC. Prior to joining Ambac as Vice President and Assistant General Counsel in 2002, Mr. Ksenak practiced at the law firm of King & Spalding LLP.

David Barranco

Mr. David Barranco is Senior Managing Director of the Company. He has the executive responsibility of managing the Risk Restructuring Group, and held similar responsibilities from January 2010 to February 2012 as Managing Director. Mr. Barranco also has responsibility for evaluating new business initiatives. Since September 2011, Mr. Barranco has served as a Director of Ambac Assurance UK Limited, Ambac’s international financial guarantee subsidiary. Mr. Barranco joined Ambac in 1999.

Robert Smith

Mr. Robert Sharon Smith is Senior Managing Director, Chief of Staff of Ambac Financial Group Inc. In July 2009, upon Ambac’s acquisition of NSM Capital Management (“NSM”), Mr. Smith became Chief Executive Officer of RangeMark Financial Services (the successor to NSM) and a Senior Managing Director of Ambac. Prior to joining RangeMark, from 2006 to 2009 he served as the Chief Executive Officer of NSM, an advisory and asset management firm. Mr. Smith has been actively in all aspects of the debt capital markets for over 20 years, with particular emphasis on derivative and structured products. From 2001 to 2005 he was the President and CIO of NIBC Credit Management, Inc., an affiliate of the Dutch bank NIB Capital. From 1995 to 2000 Mr. Smith was a Principal at Mariner Investment Group, Inc. where he was responsible for CDO investing, new business and new product development. From 1991 to 1993, he was a Principal with Morgan Stanley & Co. Inc. and founder of Morgan Stanley Investor Services, where he managed a $5 billion MBS portfolio and arranged five MBS CDOs. From 1985 to 1991 Mr. Smith was a Senior Managing Director at Bear, Stearns & Co., Inc. and worked within that firm’s Fixed Income department for eight years. In 1985 he founded and managed Bear Stearns Investment Advisors, Inc., a subsidiary specializing in MBS.

Alexander Greene

Mr. Alexander D. Greene is Independent Director of the Company. From December 2005 to March 2014, he was a Managing Partner and head of U.S. Private Equity at Brookfield Asset Management, a global asset manager with over $175 billion of assets under management. At Brookfield, he led a team that invested in companies where operational improvement and strategic guidance were primary drivers of value creation. Prior to joining Brookfield, Mr. Greene was a Managing Director and co-head of Carlyle Strategic Partners, a private equity fund investing in financially distressed industrial companies; and at Wasserstein Perella & Co., and Whitman Heffernan Rhein & Co., served as an investment banker to large and mid-cap companies, boards of directors and other constituencies, focusing on leveraged finance, merger and acquisition and recapitalization transactions. Mr. Greene is a director of Overseas Shipholding Group, Inc. and USA Truck, Inc. and formerly served as a director of Longview Fibre Paper and Packaging, CWC Energy Services Corp. and Civeo Corporation. He is a member of the Armonk New York Fire Department and serves on the Budget and Finance Advisory Committee for the Town of North Castle, New York. He holds a Bachelor of Business Administration in Finance from the George Washington University.

Ian Haft

Mr. Ian D. Haft is Independent Director of the Company. He is a founding partner and Vice President and Secretary of Cornwall Capital Management LP (“Cornwall”), an investment manager. Mr. Haft joined Cornwall in 2009 and also previously held the positions of Chief Financial Officer (until November 2011) and Chief Operating Officer and Chief Compliance Officer (until the end of 2015). Mr. Haft is also a member of Cornwall GP, LLC, the general partner of Cornwall Master LP. Prior to joining Cornwall, Mr. Haft was a Principal at GenNx360 Capital Partners, a private equity fund, from 2008 to 2009. From 2002 to 2008, Mr. Haft was a Senior Associate and then Vice President (from 2004) at ACI Capital Co., LLC, where he focused on middle market leveraged buyouts and growth equity investments on behalf of two private equity funds. Mr. Haft began his career at The Boston Consulting Group in 1993 and was also employed by Merrill Lynch & Co. and The Blackstone Group prior to joining ACI Capital in 2002. Mr. Haft currently serves as Chairman of the Board of Hone Fitness Inc. (since March 2014). Mr. Haft is also currently a director of Touchstone Gold Holding S.A. (since May 2015) and the Special Litigation Manager of Smart Skins LLC (since November 2014). Mr. Haft previously served as a director of American Pacific Corporation (NASDAQ: APFC) from March 2013 until February 2014. Mr. Haft earned a Bachelor’s Degree in Mathematics and Economics from Dartmouth College, a J.D. from Columbia Law School and an M.B.A. from Columbia Business School.

David Herzog

Mr. David L. Herzog is Independent Director of the Company. He was the Chief Financial Officer and Executive Vice President of AIG from October 2008 until his retirement from AIG in April 2016. Mr. Herzog served as Senior Vice President and Comptroller of AIG from June 2005 to October 2008, Chief Financial Officer for worldwide life insurance operations from April 2004 to June 2005 and Vice President, Life Insurance from 2003 to 2004. In addition, Mr. Herzog has served in other senior officer positions for AIG and its subsidiaries, including as the Chief Financial Officer and Chief Operating Officer of American General Life following its acquisition by AIG. Previously, Mr. Herzog served in various executive positions at GenAmerica Corporation and Family Guardian Life, a Citicorp Company, and at a large accounting firm that is now part of PricewaterhouseCoopers LLP. Mr. Herzog currently serves as a member of the Board of Directors of MetLife, Inc. and DXC.technology. Mr. Herzog received a bachelor's degree in accounting from the University of Missouri-Columbia and a master of business administration in finance and economics from the University of Chicago. In addition, Mr. Herzog holds the designations of Certified Public Accountant and Fellow, Life Management Institute.

Claude Prieur

Mr. Claude James Prieur is Independent Director of the Company. He served as Chief Executive Officer and director of CNO Financial Group, Inc. from 2006 until his retirement in 2011. CNO Financial Group is a life insurance holding company focused on the senior middle income market in the U.S. Prior to joining CNO Financial Group, Mr. Prieur had been with Sun Life Financial since 1979. He began his career at Sun Life Financial in Investments, and in 1997 he was named Senior Vice President and General Manager for U.S. operations, and became corporate President and Chief Operating Officer in 1999, a position Mr. Prieur occupied until he left Sun Life Financial to join CNO Financial Group. While at Sun Life Financial, Mr. Prieur managed multiple lines of business, including life, annuities, and health products in the United States, Canada, the United Kingdom and Asia. Mr. Prieur is currently a director of Manulife Financial Corporation. Mr. Prieur is a Chartered Financial Analyst and has a BA from the Royal Military College and a MBA from Western University in Ontario.

David Weissman

Basic Compensation

Name Fiscal Year Total

Jeffrey Stein

475,007

Claude LeBlanc

--

David Trick

1,696,500

Robert Eisman

801,301

Michael Reilly

--

Stephen Ksenak

1,237,570

David Barranco

752,759

Robert Smith

--

Alexander Greene

471,343

Ian Haft

425,331

David Herzog

440,788

Claude Prieur

554,739

David Weissman

--
As Of  31 Dec 2016