AIG stops revolving door in CFO suite, rubber stamps latest succession

Global insurance giant  American International Group (AIG) finally has what it believes will be a permanent answer to what has been a string of temporary placements at the very peak of its financial reporting and planning.

AIG’s second consecutive interim CFO Sabra Purtill (pictured) will take the CFO post for the long-term, AIG determined following a series of shifts during the first half.

Purtill previously served as chief investment officer of AIG spin-off Corebridge Financial. Prior to that, she was AIG’s executive vice president and chief risk officer and deputy chief financial officer. Before joining AIG, Purtill held senior leadership roles in finance and investor relations at The Hartford Financial Services Group, Assured Guaranty and ACE (now Chubb).

Purtill had not been AIG’s first to step in after prior CFO, Shane Fitzsimons, departed for what had initially been hoped would be a temporary medical leave. Fitzsimons is now stepping down to focus on his health. Management lauded praise for his oversight of “major strategic initiatives,” including AIG 200, a company-wide transformation, the operational separation of Corebridge and its more recent IPO, “to name a few.”

Instead, AIG had first turned to Mark Lyons, a 2018 arrival from the Arch Capital Group with tenures served at Zurich and Berkshire Hathaway, but showed Lyons the door after a short three weeks for confidentiality violations.

AIG’s chair and CEO Peter Zaffino commented on the latest appointment: “We are fortunate to have Sabra as part of our leadership team. She has held several senior roles at the company since first joining AIG in 2019 and, coupled with her significant industry experience and strong financial background, will provide important continuity in the Chief Financial Officer position. I look forward to continuing to work with Sabra as we execute on AIG’s strategic priorities and position the company for the future.”

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