Peter Zaffino was appointed executive vice president, global chief operating officer, of American International Group, Inc. (AIG) effective Aug. 1, 2017, the company announced today.
Zaffino most recently served as chief executive officer of Marsh LLC, a leading global insurance brokerage and risk management firm and subsidiary of Marsh & McLennan Companies, Inc. (MMC). Zaffino was also chairman of MMC's Risk and Insurance Services segment since 2015 and has served as a member of MMC's Executive Committee since 2008.
As global COO, Zaffino (pictured) will lead the day-to-day business of all of AIG's country operations, including U.S. Commercial field operations and AIG's
Multinational organization, as well as Global Business Services, Administration and Communications. In conjunction with the CEO and executive leadership team, Zaffino will also develop AIG's long-term strategy and operating plan, and be responsible for executing the Commercial and Consumer strategies to achieve growth and profitability objectives.
Zaffino brings more than 25 years of experience in the insurance and reinsurance industry to his new role at AIG. Before becoming Marsh CEO in 2011, he was president and CEO of Guy Carpenter & Company, LLC, a leading global and reinsurance specialist and a subsidiary of MMC, after having 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. Zaffino earned a BA in economics from Boston College and an MBA in finance from New York University's Leonard N. Stern School of Business.
"I worked closely with Brian [Duperrealt] during his tenure at MMC. We are both driven to help our organizations achieve their greatest potential," Zaffino said in a statement. "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."
"AIG's field operations will benefit from Peter's experience across all aspects of the business," Duperreault, who was appointed AIG's new president and CEO in May, said in a statement. "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."
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