Patrick McGee

Bond insurer Ambac Assurance Corp.’s decision to establish a segregated account to hold its more toxic holdings will have mixed implications for policyholders, Moody’s Investors Service said in a report Monday.

Ambac Financial Group Inc. announced late Thursday net income of $558.1 million in the fourth quarter of 2009, according to an 8K filing with the Securities and Exchange Commision.

Ambac Financial Group Inc. announced late Thursday net income of $558.1 million in the fourth quarter of 2009, according to an 8K filing with the Securities and Exchange Commision.

Williams Capital Group LP, a minority-owned investment bank headquartered in New York City, has formed a municipal finance team in an effort to expand the firm and diversify product for its clients.

San Francisco-based Stone & Youngberg, a private investment bank, expanded its operations in New York City recently to signal its commitment to becoming a major player in the municipal market in the Northeast as well as nationwide.

Fitch Ratings announced Wednesday that industry veteran John DeLuca joined the agency in February. His responsibilities are to build and maintain relationships with issuers, bankers, and financial advisers as the agency seeks to expand its presence in the U.S. public finance market.

Former New York City Comptroller William C. Thompson Jr. joined municipal underwriting firm Siebert Brandford Shank & Co. on Monday, the company announced Tuesday.

Former New York City Comptroller William C. Thompson Jr. joined municipal underwriting firm Siebert Brandford Shank & Co., the company announced today.

A lawsuit charging Syncora Holdings Ltd. with fraudulent misrepresentation was dismissed by the U.S. District Court of the Southern District of New York ­Wednesday.

Two key industry veterans left BondModel Co. last week, throwing into question whether the firm will be ready to start new business this quarter as planned.

The largest underwriters continued to dominate the municipal market in the first quarter of 2010, but one minority-owned, municipal-only firm managed to break into the top 10.

Strong investor demand allowed municipal issuers to sell near-record levels of debt at historically low yields in the first quarter of 2010.

Bond insurer Assured Guaranty Ltd. announced two key promotions on Tuesday.

The International Swaps and Derivatives Association Inc. announced Friday that a bankruptcy credit event had occurred in respect of Ambac Assurance Corp.

Financial Guaranty Insurance Co. failed to implement a plan to put its house in order by the March 25 regulatory deadline, but instead of liquidating the company, the New York Insurance Department extended the deadline to June 15.

The office of the Wisconsin insurance commissioner ordered troubled bond guarantor Ambac Assurance Corp. to deposit the more toxic holdings of its insured portfolio into a newly-created account that the office will administer.

Rice Financial Products announced it added four investment bankers to its roster last week in an effort to expand its presence and distribution network in Florida and Texas.

Several mutual funds holding municipal bonds said they want a place at the negotiating table should Ambac Financial Group Inc. undergo any restructuring efforts.

Wells Fargo & Co. announced this week that another major step in its merger with Wachovia Corp. is now complete. The companies consolidated over the weekend to form one investment bank, Wells Fargo Securities, and one commercial bank, Wells Fargo Bank NA.

CIFG Holding Inc. yesterday said it came out of deficit in the fourth quarter, placing its policyholders’ surplus in positive territory, according to company executives. However, officials said any deterioration in its insured portfolio could immediately throw the firm back into deficit.