AIG names former Marsh boss as global COO

American International Group (AIG) has appointed Peter Zaffino as executive vice president, global chief operating officer.

Zaffino joins AIG after serving as chief executive officer of Marsh, a subsidiary of Marsh & McLennan Companies, and as chairman of the risk and insurance services segment of MMC since 2015. He was also a member of MMC’s executive committee since 2008.

In his role at AIG, Zaffino will lead the day-to-day business of all country operations, including US commercial field operations and AIG’s multinational organisation, as well as global business services, administration and communications.

Working closely with the CEO and executive leadership team, Zaffino will be tasked to develop AIG’s long-term strategy and operating plan, and be responsible for executing the commercial and consumer strategies.

Prior to being named Marsh CEO in 2011, Zaffino was president and CEO of Guy Carpenter & Company, having previously held a number of senior roles at the firm. Prior to joining Guy Carpenter in 2001, he held several senior positions, including serving in an executive role with a GE Capital portfolio company.

Brian Duperreault, AIG's president and CEO, said: "Peter is one of the most talented executives operating in the insurance industry. AIG’s field operations will benefit from Peter’s experience across all aspects of the business, most recently with one of the world’s largest brokers. Adding his deep insurance knowledge and expertise to the leadership team at AIG will accelerate our efforts to build and expand on this great franchise."

Zaffino commented: "I worked closely with Brian during his tenure at MMC. We are both driven to help our organizations achieve their greatest potential. This comes with a dedication to operational excellence and empowering those closest to our clients to create valuable risk solutions for customers wherever they are in the world. I look forward to joining the talented team at AIG and contributing to the success of the company’s next chapter."

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