Win J. Neuger to Lead AIG's External Asset Management Business to be Sold; Remains AIG Investments Chairman and CEO
Jeffrey J. Hurd Named Senior Vice President and Head of Asset Management Restructuring
NEW YORK--Jan. 20, 2009--American International Group, Inc. (AIG) has named Monika M. Machon AIG
Senior Vice President and Chief Investment Officer, responsible for
insurance company portfolio management across all asset classes,
succeeding Win J. Neuger. Mr. Neuger will continue as AIG Investments
Chairman and Chief Executive Officer, while leading the management team
of the external client asset management business that AIG intends to
sell. Ms. Machon will report directly to AIG Chairman and Chief
Executive Officer Edward J. Liddy.
Jeffrey J. Hurd, who is currently AIG Investments Senior Managing
Director, Chief Administrative Officer and General Counsel, has been
named Senior Vice President and head of Asset Management Restructuring,
responsible for the sale of AIG's external asset management business and
the restructuring of AIG's asset management function. He will report to
AIG Vice Chairman Paula R. Reynolds. Mr. Hurd will retain his current
responsibilities prior to the sale.
"These changes will allow AIG to proceed quickly and thoughtfully with
the sale of the external client asset management and life insurance
businesses. In addition, under Monika's leadership, we will build on our
commitment to a strong asset management function for AIG," said AIG
Chairman and Chief Executive Officer Edward J. Liddy.
Ms. Machon joined AIG in 1998 and is presently the global head of Fixed
Income for AIG Investments and serves as Chairperson of the Board of AIG
Investments Europe Ltd. Previously, she was portfolio manager and head
of emerging markets debt. Ms. Machon has more than 27 years of broad
fixed income experience in the U.S. and overseas. Mr. Hurd joined AIG in
1998 in the Corporate Legal Department, and was named General Counsel of
AIG Investments in 2003.
American International Group, Inc. (AIG), a world leader in insurance
and financial services, is the leading international insurance
organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG's common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.
Christina Pretto, 212-770-7083
Vice President, Corporate Media Relations