Morris W. Offit Elected to AIG Board of Directors
July 11 2012 - 4:10PM
Business Wire
The Board of Directors of American International Group, Inc.
(NYSE: AIG) today elected Morris W. Offit a Director. Mr. Offit
will serve as a Director until the 2013 Annual Meeting of
Shareholders. Mr. Offit has also been named the Chairman of the
Finance and Risk Management Committee of the Board.
“I would like to thank Morris for agreeing to rejoin the Board,”
said Robert S. (Steve) Miller, Chairman of the AIG Board of
Directors. “We look forward to again benefiting from his guidance
and deep experience as AIG continues to strengthen its business and
work towards making American taxpayers whole plus a profit.”
Mr. Offit previously served as an AIG Director from 2005 until
his retirement from the AIG Board at the 2012 Annual Meeting of
Shareholders in accordance with the retirement guideline for AIG
Directors. However, following the resignation of Donald H. Layton
from the Board due to his appointment as Chief Executive Officer of
Federal Home Loan Mortgage Corporation (Freddie Mac) in May 2012
and Ms. Laurette T. Koellner’s resignation from the Board in
connection with becoming Executive Chairman of International Lease
Finance Corporation, a wholly owned subsidiary of AIG, in June
2012, the Board determined that it was in the best interests of AIG
and its shareholders to ask Mr. Offit to rejoin the AIG Board and
serve until the 2013 Annual Meeting of Shareholders, as permitted
by AIG’s retirement guideline, in light of his knowledge of AIG’s
businesses and affairs.
Mr. Offit is currently Chairman of Offit Capital, a wealth
management advisory firm, and served as the Co-Chief Executive
Officer of Offit Hall Capital Management LLC from 2002 to 2007. He
was the founder and former Chief Executive Officer of OFFITBANK, a
private bank, from 1990 to 2001. Prior to that, he was President of
Julius Baer Securities, a General Partner at Salomon Brothers, an
adjunct professor at Columbia Business School, and Head of Stock
Research at Mercantile Safe Deposit and Trust Co.
American International Group, Inc. (AIG) is a leading
international insurance organization serving customers in more than
130 countries. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG
companies are leading providers of life insurance and retirement
services in the United States. AIG common stock is listed on the
New York Stock Exchange and the Tokyo Stock Exchange.
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