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Syncora outlines new management team for 2017

SyncoraHoldings Ltd. will reorganize its management team in 2017 inconnection with the debt restructuring agreements it recently .

President and CEO Susan Comparato will leave the company inmid-2017 after assisting with the transition to her successor, who is expectedto be Frederick Hnat. Hnat is currently a senior vice president and member ofthe executive committee and will be promoted to COO, a new position, on Jan. 1,2017.

CFO and Chief Restructuring Officer Claude LeBlanc willdepart from the company Dec. 31. David Grande, the company's controller, willbecome CFO on Jan. 1, 2017, and the chief restructuring officer position willbe eliminated.

In addition, Mary Jane Constant was named chief remediationofficer, a new position effective Jan. 1, 2017. She is currently managingdirector for risk management.

Syncora's board will be reduced in size, though the companydid not disclose how many members it would have when the new compositionbecomes effective in early 2017. Alan Carr, one of the nominees for the board,was reappointed to a new three-year term.

Frederick Arnold and Robert Mills, two other director nominees,are being considered by the New York State Department of Financial Services.