AIG pushes talent up the ladder to new leadership role
American International Group (AIG) has pushed its general counsel up the ladder to a newly created leadership role supporting CEO Peter Zaffino. The executive played a key role in the complex turnaround of the global re/insurer for long-term profitable growth.
Lucy Fato (pictured) will transition from her current role as executive vice president, general counsel & global head of communications and government affairs to vice chair at AIG, effective October 1, 2023.
In her newly created role, Fato will report to Peter Zaffino, chairman & chief executive officer of AIG.
Rose Marie Glazer, executive vice president, chief human resources & diversity officer, will serve as interim general counsel and head of government affairs, and Jennifer Silane, chief of staff to the chairman & CEO of AIG, will serve as interim head of global communications in addition to their current roles until permanent successors for Fato are named.
Zaffino said: “Since Lucy joined AIG in 2017, she has played a pivotal role in successfully navigating AIG’s complicated transformational work and executing on multiple complex workstreams that have transformed the company into what it is today. These include strengthening AIG’s governance framework and stakeholder engagement, assessing and enhancing our organizational health, leading the design of AIG’s Purpose & Values, positioning AIG and Corebridge Financial as separate standalone entities, navigating the complexities of the pandemic, and executing on a series of transactions and partnerships that have streamlined our portfolio and repositioned AIG for long-term profitable growth. I have valued Lucy’s involvement in so many critical moments for AIG, admire her work ethic and tireless commitment to making a difference, and look forward to her continued contributions in her new role.”
Fato commented: “It has been an honour to work with Peter, someone I have known for almost two decades and admire for his exceptional leadership, integrity, allyship and commitment to excellence. AIG’s accomplishments over the last few years have been extraordinary, and I look forward to continuing to collaborate with Peter in my new role and contributing to AIG’s ongoing success. Additionally, I am very proud of the talented colleagues in the Global Legal, Compliance, Regulatory, Government Affairs and Communications teams that I have had the privilege of leading and the important role they have played in the most complex turnaround and transformation in the history of the insurance industry.”
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