|AIG ELECTS AMBASSADOR RICHARD C. HOLBROOKE AND FRANK G. ZARB AS DIRECTORS|
AIG ELECTS AMBASSADOR RICHARD C. HOLBROOKE AND FRANK G. ZARB AS DIRECTORS
NEW YORK, February 7, 2001 - The Board of Directors of American International
Group, Inc. (AIG) today elected two new Directors: Ambassador Richard C. Holbrooke,
most recently United States Ambassador to the United Nations, and Frank G. Zarb,
Chairman and formerly Chief Executive Officer of the National Association of
Securities Dealers, Inc. (NASD). This brings the total number of Directors on
the AIG Board to eighteen.
Before joining the NASD, Mr. Zarb, 65, was Chairman, President and CEO of Alexander & Alexander Services, a worldwide insurance brokerage and professional services consulting firm, from 1994 to 1997. Prior to that, he had been Vice Chairman and Group CEO of The Travelers, Inc., and Chairman and CEO of Smith Barney Inc. from 1988 to 1993. Earlier in his career, Mr. Zarb served in the U.S. Government as Assistant Secretary of Labor, Associate Director of the Office of Management and Budget, Administrator of the Federal Energy Administration, and Assistant to the President for Energy Affairs.
Commenting on the new Directors, AIG Chairman M.R. Greenberg said, "I am delighted that Dick Holbrooke and Frank Zarb have agreed to join our Board. They are two outstanding individuals who will bring a wide range of skills and experience to the Board's work. We are very fortunate to have them, and look forward to working closely with them in the future."
AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.