NEW YORK--(BUSINESS WIRE)--Jul. 11, 2012--
The Board of Directors of American International Group, Inc. (NYSE: AIG)
today elected Morris W. Offit a Director. Mr. Offit will serve as a
Director until the 2013 Annual Meeting of Shareholders. Mr. Offit has
also been named the Chairman of the Finance and Risk Management
Committee of the Board.
“I would like to thank Morris for agreeing to rejoin the Board,” said
Robert S. (Steve) Miller, Chairman of the AIG Board of Directors. “We
look forward to again benefiting from his guidance and deep experience
as AIG continues to strengthen its business and work towards making
American taxpayers whole plus a profit.”
Mr. Offit previously served as an AIG Director from 2005 until his
retirement from the AIG Board at the 2012 Annual Meeting of Shareholders
in accordance with the retirement guideline for AIG Directors. However,
following the resignation of Donald H. Layton from the Board due to his
appointment as Chief Executive Officer of Federal Home Loan Mortgage
Corporation (Freddie Mac) in May 2012 and Ms. Laurette T. Koellner’s
resignation from the Board in connection with becoming Executive
Chairman of International Lease Finance Corporation, a wholly owned
subsidiary of AIG, in June 2012, the Board determined that it was in the
best interests of AIG and its shareholders to ask Mr. Offit to rejoin
the AIG Board and serve until the 2013 Annual Meeting of Shareholders,
as permitted by AIG’s retirement guideline, in light of his knowledge of
AIG’s businesses and affairs.
Mr. Offit is currently Chairman of Offit Capital, a wealth management
advisory firm, and served as the Co-Chief Executive Officer of Offit
Hall Capital Management LLC from 2002 to 2007. He was the founder and
former Chief Executive Officer of OFFITBANK, a private bank, from 1990
to 2001. Prior to that, he was President of Julius Baer Securities, a
General Partner at Salomon Brothers, an adjunct professor at Columbia
Business School, and Head of Stock Research at Mercantile Safe Deposit
and Trust Co.
American International Group, Inc. (AIG) is a leading international
insurance organization serving customers in more than 130 countries. AIG
companies serve commercial, institutional, and individual customers
through one of the most extensive worldwide property-casualty networks
of any insurer. In addition, AIG companies are leading providers of life
insurance and retirement services in the United States. AIG common stock
is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Source: American International Group, Inc.
American International Group, Inc.