American International Group, Inc. announced the hiring of Arthur Levitt as a special advisor to its Board of Directors and the Board's Nominating and Corporate Governance Committee.
Mr. Levitt is known as the longest serving chairman of the U.S. Securities and Exchange Commission, where he served from 1993 to 2001. Prior to his term at the SEC, he was chairman of the New York City Economic Development Corporation from 1989 to 1993.
Mr. Levitt also served as chairman of the American Stock Exchange from 1978 to 1989.
AIG President and Chief Executive Officer, Martin J. Sullivan said that Mr. Levitt "will advise AIG on a wide range of corporate governance matters."
The company is the subject of a number of state and federal probes involving its accounting practices, including a civil suit filed by New York Attorney General Eliot Spitzer and Superintendent of Insurance Howard Mills on May 26.
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