AIG Names Peter Y. Solmssen Executive Vice President and General Counsel
October 05 2016 - 04:16PM
Business Wire
American International Group, Inc. (NYSE: AIG) announced that
Peter Y. Solmssen will join AIG as Executive Vice President and
General Counsel on October 18. Mr. Solmssen will oversee the Global
Legal, Compliance, Regulatory and Government Affairs functions, and
will report to Peter D. Hancock, AIG President and Chief Executive
Officer. He will also serve as a member of AIG’s Executive
Leadership Team, and participate in all strategic and policy
decisions affecting the company’s operations.
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Peter Y. Solmssen, Executive Vice
President and General Counsel, AIG (Photo: Business Wire)
Mr. Solmssen (61) previously served as General Counsel and Head
of Corporate, Legal and Compliance for Siemens AG, and served as a
member of its Managing Board with responsibility for Siemens’
businesses in the Americas. He succeeds Thomas Russo (73), who is
retiring. Mr. Russo has served as Executive Vice President and
General Counsel, Legal, Compliance and Regulatory since 2010. He
was formerly Vice Chairman and Chief Legal Officer of Lehman
Brothers. Prior to this, he was a senior partner of Cadwalader,
Wickersham & Taft, following his role as the first director of
the division of Trading and Markets of the Commodity Futures
Trading Commission.
“Peter brings a mission-driven perspective and sensibility to
this role, which align perfectly with our focus on building and
preserving trust, and delivering value for our customers and other
key stakeholders,” said Mr. Hancock. “He has exceptional corporate
legal experience, and his insights on mitigating risk and managing
legal and regulatory issues will be greatly valued as part of our
leadership team.
“I want to thank Tom for the invaluable contributions he made
not only at AIG, but over his entire outstanding career," continued
Mr. Hancock. "As one of the brightest legal minds in business, Tom
has provided AIG with wise counsel on virtually every area where
insurance, finance, and the law intersect. We wish Tom all the best
in his well-deserved retirement. I, and all of AIG, will miss his
friendship, counsel, and guidance.”
Mr. Solmssen said: “AIG is a great company with a great legal,
compliance and regulatory team. Having spent my career helping lead
major global organizations in addressing their most important
challenges, I look forward to working with AIG’s leadership team in
pursuing its mission of providing essential services to consumers
and commercial customers around the world.”
Mr. Russo said: “It has been a tremendous honor to work with
Peter Hancock and so many of the outstanding, dedicated employees
of AIG, and, in particular, my colleagues in the legal, compliance,
regulatory, and government affairs teams. I am grateful for their
support and friendship. I also want to welcome Peter Solmssen to
AIG. With his impressive track record and deep expertise, he is
perfectly suited for this critical role. I wish him every
success.”
Mr. Solmssen joined Siemens AG as General Counsel in 2007. He
was previously Executive Vice President & General Counsel at GE
Healthcare. Mr. Solmssen joined GE Healthcare as Vice President and
General Counsel in November 2002. Before joining GE Healthcare, he
was Vice President and General Counsel of GE Advanced Materials
(formerly GE Plastics) from December 1999 until November 2002.
Before joining GE, Mr. Solmssen was a senior partner in the law
firm Morgan, Lewis & Bockius, where he was a leader in the
firm's international and corporate practice. Mr. Solmssen received
his A.B. in history and literature from Harvard University, was a
Knox Fellow at Oxford University, and received his law degree from
the University of Pennsylvania, where he was articles editor of the
law review. After law school he served as a law clerk for the
Honorable Clarence C. Newcomer in the Federal District Court for
the Eastern District of Pennsylvania.
American International Group, Inc. (AIG) is a leading global
insurance organization. Founded in 1919, today we provide a wide
range of property casualty insurance, life insurance, retirement
products, mortgage insurance and other financial services to
customers in more than 100 countries and jurisdictions. Our diverse
offerings include products and services that help businesses and
individuals protect their assets, manage risks and provide for
retirement security. AIG common stock is listed on the New York
Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com and
www.aig.com/strategyupdate | YouTube: www.youtube.com/aig |
Twitter: @AIGinsurance | LinkedIn:
http://www.linkedin.com/company/aig. These references with
additional information about AIG have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
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American International Group, Inc.Investors:Liz Werner,
212-770-7074elizabeth.werner@aig.comorMedia:Jennifer Hendricks
Sullivan, 212-770-3141jennifer.sullivan@aig.com
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