AIG Announces Leadership Team
Peter D. Hancock, President and Chief Executive Officer of American International Group, Inc. (NYSE:AIG) , announced today the new leadership structure for the company, which is designed to integrate the company and position it to deliver the full capabilities of AIG to its approximately 90 million clients around the world.
“There is one business and it’s AIG,” Mr. Hancock said. “We need to focus as a leadership team on fundamental priorities and ensure that we execute against those priorities in the most disciplined way possible. While we have made enormous strides in improving the way we balance growth, profitability, and risk, we have more to do.
“Stated simply, we are steadfastly working toward the goal of One AIG. We are committed to having the strongest balance sheet in the industry, recognizing that we have learned that a federated business model exposes us to the weakest link in the chain. As a unified, global business, I firmly believe that this ensures we apply a comprehensive enterprise set of standards that keeps our risk appetite well within the capacity of our $100 billion capital base.
“Our leadership team – through both its composition and its operating practices – will be focused on making sure that we develop and execute clear strategies to continue to earn high value business, lower our expenses, devote capital to the right opportunities, and advance trust in AIG with all of our stakeholders,” Mr. Hancock concluded.
Reporting to Mr. Hancock and serving on the newly established Operating Committee are the following individuals:
- Murli Buluswar, Chief Science Officer
- William Dooley, Investments
- John Doyle, Commercial, including global capabilities such as property; casualty; financial lines; specialty lines; institutional markets; and mortgage guaranty
- Philip Fasano, Chief Information Officer
- Jose Hernandez, Asia Pacific, representing 16 countries and jurisdictions
- David Herzog, Chief Financial Officer
- Kevin Hogan, Consumer, including accident and health; personal lines; life insurance; retirement income solutions, including variable, fixed, and indexed annuities; group benefits; group retirement; and retail mutual funds
- Jeffrey Hurd, Human Resources, Communications, and Administration
- Seraina Maag, Europe, Middle East, and Africa, representing 47 countries
- Eric Martinez, Claims and Operations
- Thomas Russo, General Counsel
- Sid Sankaran, Chief Risk Officer
- Robert Schimek, Americas, representing 29 countries and jurisdictions
“This team of leaders will work together to bring AIG’s talented people closer to our customers, distribution partners, regulators, and the communities where we live and work,” Mr. Hancock said. “I am excited about the opportunities ahead of us, and I am confident that we are positioned to capitalize on them with focus, discipline, and integrity.”
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all jurisdictions, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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