AIG hires CEO of former subsidiary United Guaranty Corporation

American International Group (AIG) has announced that Donna DeMaio will rejoin the company as executive vice president and chief auditor with effect from April 17.

DeMaio previously served as the president and CEO of United Guaranty Corporation (UGC), a former AIG subsidiary recently sold to Arch Capital Group. As CEO of UGC, DeMaio also served as global head of credit lines for AIG, where she oversaw political risk, surety and trade credit.

Prior to joining UGC in 2012, DeMaio was president and CEO of MetLife Bank, and previously served as the company's chief financial officer from 2002 through 2005. Before that, she was a partner with PricewaterhouseCoopers.

DeMaio succeeds Martha Gallo, who was recently appointed to the new role of chief information officer.

DeMaio will join AIG’s executive leadership team, and will report directly to the audit committee of the AIG board of directors and administratively to the president and CEO Peter Hancock.

"Donna becomes chief auditor at a pivotal time as we continue to build world class risk and control platforms according to the highest ethical and corporate governance standards,” said William Jurgensen, chairman of the audit committee. "Her extensive audit experience, combined with her operational expertise in addressing complex business challenges, will serve as touchstones for management and the Board."

AIG CEO Hancock commented: "Donna was a highly respected leader of UGC, and her diverse professional experiences as an auditor and a bank CEO will be incredibly valuable as we execute our strategy of becoming a leaner, more focused company."

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