The MSRB on Thursday announced that Kathleen McDonough has joined the MSRB Board of Directors.  A retired executive from Ambac Financial Group with nearly 30 years of experience in public finance and securities law, she previously served on the MSRB Board from 2008-11.  Ms. McDonough replaces John Petersen who passed away earlier this month. The 21-member MSRB Board of Directors presently is composed 11 independent, public members, and the remaining 10 include directors both the public and regulated entities, including B/D's, bank dealers and municipal advisors. During her 30 years at Ambac, Ms. McDonough also served as General Counsel for Public Finance and Assistant General Counsel.  Prior to that, she practiced securities and municipal finance law, and served as an enforcement investigator with the NYSE. Ms. McDonough attended Fordham University, where she received her Bachelor’s degree in accounting, and her law degree.  Her MSRB term runs until 9/30/12.  [MSRB News Release, 4/19/12]