New York City-based insurance giant American International Group Inc. (AIG) announced today that it has formed a new executive leadership team.

“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 D. Hancock, AIG president and CEO.

“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 optimizing our data assets and client relationships; and returning excess capital to shareholders,” he said.

The members of the new executive leadership team, which reports to Hancock, are:

  • Douglas Dachille — chief investment officer. He will oversee AIG's Science function. Murli Buluswar, chief science officer, will report to Dachille.
  • Philip Fasano — chief information officer.
  • Martha Gallo — chief auditor. She will continue to report both to the board's audit committee, as well as Hancock.
  • Kevin Hogan — CEO of Consumer. The Japan operations and the Consumer Claims organization will report to Hogan.
  • Jeffrey Hurd — executive vice president for transformation, human resources and administration.
  • Seraina Maag — CEO of regional management and operations. The regional CEO and president roles (Americas, EMEA and Asia Pacific) will be consolidated into one role with oversight of country management. Maag will also oversee operations.
  • Thomas Russo — general counsel for legal, compliance, regulatory affairs, and government affairs.
  • Sid Sankaran — chief financial officer. Sankaran will oversee AIG's Enterprise Risk Management.
  • Robert Schimek — CEO of Commercial. The U.K. operations and the Commercial Claims organization will report to Schimek.
  • Brian Schreiber — chief strategy officer and head of corporate marketing and communications.

David Herzog will remain chief financial officer through the filing of AIG's 2015 Form 10-K.

Sankaran will continue as chief risk officer, before assuming the role of chief financial officer. At such time, Alessa Quane will assume the position of chief risk officer, while maintaining the role of chief corporate actuary. Quane will report to both Sankaran and the board's risk and capital committee.

All other executive leadership team appointments are with immediate effect.

Herzog — along with Executive Vice President and Chief Executive Officer Commercial Insurance John Doyle, Senior Vice President and Chief Executive Officer Asia Pacific Jose Hernandez, and Executive Vice President Global Claims and Operations Eric Martinez — will be leaving the company after the transition period.

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Trudy Knockless

Trudy Knockless is a reporter on ALM Media's Business of Law desk.  She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless. 

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