NEW YORK--(BUSINESS WIRE)--Oct. 31, 2013--
American International Group, Inc. (NYSE:AIG) today announced that it
has named Monika M. Machon AIG Treasurer, effective immediately,
reporting to David L. Herzog, AIG Chief Financial Officer. Ms. Machon
succeeds AIG Executive Vice President Brian T. Schreiber, who has been
named AIG Deputy Chief Investment Officer (CIO). In addition, Geoffrey
N. Cornell has been named AIG Deputy Chief Investment Officer. Both
Brian and Geoff report directly to William N. Dooley, Executive Vice
“Monika Machon is a leader with deep financial and insurance industry
experience,” said Robert H. Benmosche, AIG President and Chief Executive
Officer. “In her new role, Monika oversees the work of the AIG Treasury
team, optimizing AIG’s funding sources and capital structure while also
working to reduce our costs of capital and generating greater financial
Mr. Benmosche continued, “Bringing Brian Schreiber back to his roots in
AIG Investments is an important step for AIG, as we look to maximize
returns and take a consolidated approach to all investments across AIG.
This is an area where AIG will distinguish itself. Brian has a proven
track record and transformed AIG’s Treasury function since taking over
in 2011. In particular, Brian’s leadership and vision were instrumental
in the work surrounding the restructuring and recapitalization of the
U.S. government’s investment in AIG.”
In his new role, Mr. Schreiber will oversee a portfolio of specialized
asset classes, including Private Placements, Structured Products, Direct
Investments, Real Estate Investments, Private Equity and Hedge Funds,
Commercial Asset Finance, and the remainder of AIG Legacy Assets. Mr.
Schreiber joined AIG in 1997 as a Portfolio Manager for AIG Global
Investments Group. He was appointed AIG Treasurer in August 2011,
rebuilding and transforming AIG's Global Corporate Treasury Operations,
while also overseeing AIG's Strategic Planning and Corporate Development
activities, and investor relations. Mr. Schreiber graduated cum laude
from New York University's College of Business and Public Administration
with a B.S. in Finance, and was a recipient of the University's Founders
Day Award. He also earned his MBA from Columbia Business School. Mr.
Schreiber is a member of the AIG Senior Leadership Team.
Ms. Machon joined AIG Asset Management (Europe) Limited in 1998 as
Director, Credit and Emerging Markets. She was appointed Global Head of
Asset Management in January 2009. In this role, she was responsible for
managing AIG insurance assets and leading a multinational investment
team comprising over 175 global professionals. Previous roles at AIG
include Head of Fixed Income, CEO of AIG Asset Management (Europe)
Limited, and Global Head of Emerging Markets Fixed Income. Prior to
joining AIG, Ms. Machon worked with Barclays Capital, Providian (now
Aegon USA), Northwestern Mutual Life, and INB. Ms. Machon holds a Doctor
of Jurisprudence and MBA (Finance) degrees from Indiana University, and
a B.S. in Business Administration from Rockhurst University. She is a
member of the Wisconsin Bar and a CFA charter holder. Ms. Machon is a
member of the AIG Senior Leadership Team.
Mr. Cornell joined AIG in 1994 and most recently served as North
American Regional Chief Investment Officer, responsible for developing
strategic asset allocation and managing investment portfolios for the
AIG Property Casualty North America region and other AIG Corporate
functions. In this new role, Mr. Cornell will oversee certain public
market portfolios, including High Grade and High Yield Corporate Debt,
Municipal Securities, and Investment Strategy & Sovereign Research. Mr.
Cornell is a graduate of Bryant University and earned an MBA degree in
Finance from Fordham University. He is a CFA charter holder.
Certain statements in this press release constitute forward-looking
statements. These statements are not historical facts but instead
represent only AIG’s belief regarding future events, many of which, by
their nature, are inherently uncertain and outside AIG’s control. It is
possible that actual results will differ, possibly materially, from the
anticipated results indicated in these statements. Factors that could
cause actual results to differ, possibly materially, from those in the
forward-looking statements are discussed throughout AIG’s periodic
filings with the SEC pursuant to the Securities Exchange Act of 1934.
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.
Additional information about AIG can be found at www.aig.com
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AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
Source: American International Group, Inc.
Jon Diat, 212-770-3505