10 December 2015 Insurance

AIG appoints new executive leadership team

Insurance firm American International Group (AIG) has formed a new executive leadership team which it says is designed to execute its strategic priorities and provide value to its worldwide clients.

Reporting to Peter Hancock, president and chief executive officer (CEO) of AIG will be; Douglas Dachille, chief investment officer; Murli Buluswar, chief science officer; Philip Fasano, chief information officer; Martha Gallo, chief auditor; Kevin Hogan, CEO of consumer; Jeffrey Hurd, executive vice president, transformation, human resources, and administration; and Seraina Maag, CEO of regional management and operations.

Also reporting to Hancock will be; Thomas Russo general counsel, legal, compliance, regulatory affairs, and government affairs; Sid Sankaran, chief financial officer (CFO); Robert Schimek, CEO of commercial; and Brian Schreiber, chief strategy officer and head of corporate marketing and communications.

David Herzog will continue as CFO. Sid Sankaran will continue as chief risk officer until he becomes CFO (at which time Alessa Quane will become chief risk officer and continue in the role of chief corporate actuary).

All other executive leadership team appointments are effective immediately.

David Herzog, John Doyle, Jose Hernandez, and Eric Martinez will leave the company after a period of transition.

“Our new management structure will ensure we have strong end-to-end accountability within the customer segments, so we can transform into a more efficient, less complex organization with accelerated decision-making in response to our clients’ needs,” said Peter Hancock, president and chief executive officer of AIG.

“We are moving forward with a continued sense of urgency on our four strategic priorities: narrowing our focus on clients, products, and geographies where we can grow profitably; driving for efficiency; growing through innovation, and optimising our data assets and client relationships; and returning excess capital to shareholders.

“The executive leadership team is a dynamic, highly skilled group of executives, with deep experience in successful execution.”

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