Ambac Senior Managing Director Douglas Renfield-Miller has been named chairman of Ambac Assurance U.K. Ltd., where he will oversee Ambac's European operations encompassing both the London office and the Milan branch. Renfield-Miller will also continue to be responsible for the Asia/Pacific markets including offices in Sydney and Tokyo. Renfield-Miller had been responsible for Ambac's commercial asset-backed securities, global structured credit, secondary markets and financial services businesses as well as the company's non-European international activities. Prior to joining Ambac in 2000, he was in the principal finance and credit arbitrage group at UBS. Former Ambac U.K. Chairman, Executive Vice President John Uhlein III is now responsible for focusing on the continued development of Ambac's domestic structured finance business in New York.
Law firm Linklaters hired Paul Kruger away from Clifford Chance. Kruger, who headed Asian capital markets at Clifford Chance, will be based in the firm's Tokyo office and will manage Linklaters' pan-Asian structured finance practice, covering Japan, Korea, China, Hong Kong, Taiwan and Singapore. Kruger has worked on many transactions since joining Clifford Chance in 1997. It is the latest demonstration of Linklaters' intent to boost its Asian presence, particularly in Japan, following an April regulation change allowing foreign law firms to merge with local practices - Linklaters recently integrated with Mitsui, Yasuda, Wani & Maeda, Japan's sixth biggest law firm.