AIG Taps Head of Strategic Planning for New Finance Role

American International Group has appointed its head of strategic planning to a newly created executive level position that will oversee the company’s treasury function and report directly to the chief financial officer.

Advertisement

Brian T. Schreiber will serve as executive vice president of treasury and capital markets in his new role. His responsibilities will involve managing the parent company’s invested assets and debt in partnership with AIG Asset Management Group, as well as strategic planning and investor relations. He will report to David Herzog, executive vice president and CFO.

Schreiber has played a lead role in AIG’s restructuring and corporate development efforts. He joined the company in 1997 as a portfolio manager in AIG’s Global Investment Group.

“As we emerge from our restructuring, and particularly as we move toward re-entering the capital markets, we remain fundamentally committed to a strong finance and risk organization charged with preserving and enhancing our financial strength for the benefit of all of our stakeholders,” said Peter Hancock, AIG executive vice president, finance, risk and investments.

AIG also named Robert Gender senior vice president and treasurer. Gender joined AIG in 1998 as an assistant treasurer; he has served as treasurer since 2005.

Earlier this month, AIG said it raised $36.71 billion to repay the U.S. government through the sale of American Life Insurance Co. to MetLife Inc. and through the $20.51 billion initial public offering of AIA Group Ltd. (BestWire, Nov. 1, 2010). In a memo to AIG employees, Herzog touted Schreiber’s instrumental role in the initial public offering for AIA.

Most AIG companies have current Best’s Financial Strength Ratings of A (Excellent).

Shares of AIG (NYSE: AIG) were trading at $41.02 on the afternoon of Nov. 23, down 2.68% from the previous close.

(By Al Slavin, senior associate editor, BestWeek)