A Bond Insurer Ousts Its Chief After Taking a Big Write-Down
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Michael A. Callen will succeed Robert J. Genader as chief executive of the Ambac Financial Group, after the bond insurer cut its dividend 67 percent.
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SunTrust Banks (STI), a large regional bank, said Wednesday it fired three finance executives, including its chief credit officer, after uncovering problems in how it accounted for bad loans.
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Kathleen Corbet, president of the credit rating company Standard & Poorâs, resigned after lawmakers and investors criticized the company for failing to judge the risks of securities backed by subprime mortgages.
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Europe's biggest bank HSBC Holdings  has ousted the head of its North American operations, Bobby Mehta, in the wake of this month's shock profit warning from its troubled U.S. mortgage business.
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The chief executive and top financial officer at mortgage giant Fannie Mae were forced out of the company Tuesday as the nation&#39;s second largest financial institution struggled to deal with revelations of serious financial reporting problems.
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MBIA Inc  ousted Chief Executive Gary Dunton and replaced him with former CEO Joseph "Jay" Brown as the bond insurer scrambles to overcome mortgage-related losses, maintain a top credit rating and restore market confidence.
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The chief executive and chairman of the world's biggest broker of insurance stepped down after his company was accused of cheating customers.
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Two Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) executives linked to an insurance market bid-rigging investigation stepped down from their positions
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Two top-ranking executives of the insurance brokerage unit at Marsh &amp; McLennan Company and the company&#39;s general counsel were forced out yesterday as Marsh took another step in reorganizing
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The bond insurer replaced its chief executive with its retired chairman, Joseph W. Brown Jr., who said he would consider splitting up the companyâs insurance business to restore confidence.
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Jardine Lloyd Thompson, the country&#39;s biggest insurance broker, issued a swingeing profits warning yesterday and announced its chief executive had quit.
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The chief executive of the world's fifth-largest airline, NorthWest Airlines, has resigned to take over at a healthcare insurer.
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Barclays Capital said its co-president, Grant Kvalheim, had resigned and would leave at the end of the first quarter.
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New Century Financial Corp.  said on Tuesday it dismissed Chief Executive Brad Morrice "without cause," leaving the bankrupt subprime mortgage lender owing him more than three years' salary as a payout.
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Northern Rock said Thursday that chief executive Adam Applegarth, who had previously announced his resignation, had left the company.
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Lang Gibson, a member of the team that helped Merrill Lynch & Co Inc  become the No. 1 issuer of collateralized debt obligations, has resigned, people familiar with the situation said, as a CDO-related credit implosion roils banks worldwide.
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Ace Ltd., a Bermuda insurer that is a subject of the New York attorney general's investigation into the insurance industry, dismissed two executives.