|AMERICAN INTERNATIONAL GROUP, INC. ANNOUNCES LAUNCH OF NEW EQUIPMENT FINANCE AND LEASING COMPANY|
NEW YORK--Oct. 25, 2004--American International Group, Inc. (AIG) today announced the formation and launch of AIG Commercial Equipment Finance, Inc. (AIG CEF), a new equipment finance and leasing company headquartered in Plano, Texas. AIG CEF, a member company of American International Group, Inc., will provide equipment lending and leasing services to mid-size and large commercial enterprises throughout the United States, Canada and other selected international markets.
William G. Farrell, Jr. and David B. Fate will serve as President and Executive Vice President of AIG CEF, respectively. Both executives come to AIG CEF from Transamerica Equipment Financial Services, where Mr. Farrell served as President, overseeing all business segments, and Mr. Fate served as Executive Vice President in charge of all intermediary business ventures.
"Bill and Dave bring extensive experience and credibility to AIG's entry into this business segment," said William N. Dooley, Senior Vice President - Financial Services, American International Group, Inc. "Leveraging the scale, scope and financial strength of AIG with the expertise of our new management team will allow AIG CEF to grow a successful business."
For more information on AIG Commercial Equipment Finance, Inc., please contact David B. Fate at (972) 987-3702 / firstname.lastname@example.org or Joseph F. Thompson at (972) 987-3704 / email@example.com.
American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include retirement services, financial services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.