Syncora Holdings Ltd. announced that Frederick Hnat will take on the role of president and CEO.

The company's board also named Hnat a director, effective May 31. Previously, he was Syncora's COO. The COO position will not be filled, the company said.

Hnat replaces Susan Comparato, who is leaving Syncora to pursue other opportunities. Comparato will provide consulting services to the company, as needed.