Ambac Financial Group, Inc. has announced the appointment of Nader Tavakoli as the new president and CEO. Mr. Tavakoli also remains a Director of Ambac and has become non-executive Chairman of Ambac Assurance. Mr. Tavakoli had been serving as Interim President and CEO of Ambac and Executive Chairman of Ambac Assurance since January 2015 and has been a Director since 2013.

David Trick remains interim President and CEO of Ambac Assurance and CFO and Treasurer of Ambac and Ambac Assurance. Mr. Trick has been CFO since January 2010 and Treasurer since May 2006. Mr. Trick joined Ambac in 2005.

Nader Tavakoli is currently President and CEO of Ambac and non-executive Chairman of the Board of Ambac Assurance. He was appointed interim President and CEO of Ambac and Executive Chairman of Ambac Assurance on January 1, 2015. Mr. Tavakoli has been a Director of Ambac and Ambac Assurance since May 1, 2013.

He was Co-Chair of Ambac and Ambac Assurance from May 1, 2013 until December 31, 2014.