AIG announced its a new leadership structure for the company, which will better position the insurance corporation to meet its 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, Peter D. Hancock, president and CEO, said in a statement. “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.”
The Operating Committee will focus on fundamental priorities in the way the company balances growth, profitability and risk for its 90 million clients around the world.
“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,” Hancock said.
Reporting to Hancock and serving on the newly established Operating Committee are:
- 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,” 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.”
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