AIG appoints new general counsel following retirement

American International Group (AIG) has appointed Lucy Fato as executive vice president and general counsel, responsible for overseeing the company's global legal, compliance, regulatory and government affairs function.

Fato succeeds Peter Solmssen, who has served as AIG’s general counsel since 2016 and is returning to retirement.

Fato is currently the managing director, head of the Americas and general counsel at the global investigations firm Nardello & Co. She will continue to serve the firm in an advisory capacity.

Previously, Fato served as vice president, deputy general counsel and corporate secretary at Marsh & McLennan Companies (MMC).

In her new position, Fato will report to AIG president and chief executive officer Brian Duperreault. She will also serve as a member of AIG’s executive leadership team, and will participate in all strategic and policy decisions affecting the company’s operations.

"I had the privilege of working with Lucy at MMC and know firsthand that she is an incredibly accomplished executive and strategic partner," said Duperreault. "Her experience of more than 25 years working across a variety of complex legal, compliance, regulatory and corporate governance matters will be a strong addition to our leadership team as we grow AIG and build long-term shareholder value."

"I want to thank Peter for his contributions and exceptional service to AIG. We wish him well in his retirement," Duperreault added.

Fato commented: "I am honoured to be joining Brian and the Executive Leadership Team at one of the world’s iconic companies. Having worked with Brian throughout his tenure at MMC, I have tremendous admiration and respect for all that he has accomplished over his career. I look forward to working with him again at this pivotal time in AIG’s history and collaborating with the many talented colleagues across the organization."

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