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The insurance giant's chief strategy officer joined the company in 1997 under Hank Greenberg. (Photo: Richard Drew/AP Photo)

(Bloomberg) — American International Group Inc. veteran Brian Schreiber, who shepherded multibillion-dollar deals that expanded the company and then shrank it after the 2008 credit crisis, is departing as the insurer overhauls management.

Seraina Maag, who rose to oversee regional operations after joining in 2013, also is leaving, Chief Executive Officer Peter Hancock wrote in memos to employees on Monday. The country heads that reported to Maag will work under commercial and consumer segments, which are run by Rob Schimek and Kevin Hogan.

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