ACA Financial Guaranty Corp. named a chief executive officer and a new board of directors as it reorganizes following the global settlement it signed last month with the 29 structured credit counterparties that now control the company.

Raymond J. Brooks Jr. - a former managing director with Alvarez & Marsal - will serve as chief executive officer and join the board of directors, while Willis King - executive chairman of First Protective Insurance Co. and Fidelity Fire and Casualty Insurance Co. - will chair the board, the company announced earlier this week.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.