Douglas J. Lucas will join AMBAC Inc. next week as chief risk compliance officer and first vice president. The hire will help AMBAC's capital management subsidiary gets its new swaps business off the ground, market sources said.

Lucas, 38, was chief credit officer at TMG Financial Products, a swaps subsidiary of the Mutual Life Assurance Company of Canada.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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