AIG adds Jasco CEO to board of directors

American International Group (AIG) has appointed James Cole, chairman and chief executive of New York-based investment management firm The Jasco Group, to its board of directors.

Brian Duperreault, executive chairman of AIG, said the company's stakeholders will benefit from Cole's expertise and insights, particularly his extensive background in public policy.

Cole spent approximately 15 years with the law firm Wachtell, Lipton, Rosen & Katz where he specialised in mergers & acquisitions and corporate governance. He served in President Obama’s Administration in 2016 as US Delegated Deputy Secretary of Education. Prior to that, in December 2014 he was confirmed by the US Senate as the Department of Education’s General Counsel after spending three years as Deputy General Counsel at the US Department of Transportation. Cole began his career as a financial analyst at GE Capital Corporation.

Peter Zaffino, president and chief executive officer of AIG, praised Cole's forward-looking and optimistic point-of-view, adding that “he will help us rise to the challenges we face as a global risk management and insurance company seeking to create value for our clients, shareholders and other stakeholders while investing in the futures of our colleagues.”

“As we continue to position AIG for growth in an ever-changing world, it is critical that Directors bring deep expertise on complex matters and diverse perspectives to help us navigate a new and better course forward,” said Zaffino.

Cole commented: “It is a privilege to join AIG’s Board of Directors at a pivotal time in the company’s history. The steady progress AIG has made in recent years is evident and I look forward to working with the other AIG Directors in supporting the Executive Leadership Team, and the entire organisation, as they pursue their vision for the future and accelerate their momentum to become a top-performing insurance franchise.”

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