Ambac Financial Group, Inc. Hires Nancy S. Fox to Head New Sydney Office.Business Editors NEW YORK--(BUSINESS WIRE)--April 4, 2001 Ambac Financial Group Ambac Financial Group (NYSE: ABK) is an American Insurer of bonds, including municipal bonds. Ambac Financial Group, Inc. (NYSE: ABK) is a holding company whose subsidiaries provide financial guarantee products and other financial services to clients in both , Inc. (NYSE NYSE See: New York Stock Exchange : ABK) today announced the appointment of Nancy S. Fox, Managing Director, to head Ambac's new office in Sydney, Australia, scheduled to open on April 30. She will report to Douglas C. Renfield-Miller, Managing Director, who has overall responsibility for Ambac's efforts in Asia, Australia and the emerging markets. Mr. Renfield-Miller noted, "Ambac is already a major guarantor of transactions in the Australian market, particularly in the utility and project finance sectors. Nancy, with her expertise in securitization and years of experience in Asia, will help drive Ambac's efforts to grow and broaden its business in the region." Prior to joining Ambac, Ms. Fox was Managing Director and Head of Asset Securitization in the Structured Finance Division of ABN AMRO, Sydney. Prior to ABN AMRO, she was Divisional Director, Project and Structured Finance Division at AIDC (Automatic Identification and Data Collection or Capture) Capturing data electronically by scanning bar codes or alphanumeric codes (OCR, MICR), by reading magnetic stripes or by wireless means. See AIM, bar code and RFID. Ltd., Sydney, and was with Citibank in Tokyo and Sydney. She received her BA from Rutgers University, New Jersey, and her JD from Seton Hall School of Law, New Jersey. The new Sydney office is a part of Ambac's ongoing globalization initiative, which includes the opening of its Tokyo office this past February. As a result of its consistent focus on global opportunities, Ambac's international business, as measured by premiums written, has grown by over 250% since 1997. Ambac Financial Group, Inc., headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is a holding company whose affiliates provide financial guarantees and financial services to clients in both the public and private sectors around the world. Ambac's principal operating subsidiary, Ambac Assurance Corporation Ambac Assurance Corporation A subsidiary of publicly traded Ambac Financial Group that provides financial guarantees for municipal borrowers and for asset-backed and structured issues. , is a leading guarantor of municipal and structured finance obligations. It has earned triple-A ratings, the highest ratings available, from Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. , Inc., Standard & Poor's Ratings Services, Fitch, Inc. and Rating and Investment Information, Inc. Ambac Financial Group, Inc. common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (ticker symbol ABK). |
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