AIG Names Monika M. Machon AIG Treasurer; Brian T. Schreiber, Geoffrey N.
Cornell Promoted to AIG Deputy Chief Investment Officers
NEW YORK -- October 31, 2013
American International Group, Inc. (NYSE:AIG) today announced that it has
named Monika M. Machon AIG Treasurer, effective immediately, reporting to
David L. Herzog, AIG Chief Financial Officer. Ms. Machon succeeds AIG
Executive Vice President Brian T. Schreiber, who has been named AIG Deputy
Chief Investment Officer (CIO). In addition, Geoffrey N. Cornell has been
named AIG Deputy Chief Investment Officer. Both Brian and Geoff report
directly to William N. Dooley, Executive Vice President, Investments.
“Monika Machon is a leader with deep financial and insurance industry
experience,” said Robert H. Benmosche, AIG President and Chief Executive
Officer. “In her new role, Monika oversees the work of the AIG Treasury team,
optimizing AIG’s funding sources and capital structure while also working to
reduce our costs of capital and generating greater financial flexibility.”
Mr. Benmosche continued, “Bringing Brian Schreiber back to his roots in AIG
Investments is an important step for AIG, as we look to maximize returns and
take a consolidated approach to all investments across AIG. This is an area
where AIG will distinguish itself. Brian has a proven track record and
transformed AIG’s Treasury function since taking over in 2011. In particular,
Brian’s leadership and vision were instrumental in the work surrounding the
restructuring and recapitalization of the U.S. government’s investment in
In his new role, Mr. Schreiber will oversee a portfolio of specialized asset
classes, including Private Placements, Structured Products, Direct
Investments, Real Estate Investments, Private Equity and Hedge Funds,
Commercial Asset Finance, and the remainder of AIG Legacy Assets. Mr.
Schreiber joined AIG in 1997 as a Portfolio Manager for AIG Global Investments
Group. He was appointed AIG Treasurer in August 2011, rebuilding and
transforming AIG's Global Corporate Treasury Operations, while also overseeing
AIG's Strategic Planning and Corporate Development activities, and investor
relations. Mr. Schreiber graduated cum laude from New York University's
College of Business and Public Administration with a B.S. in Finance, and was
a recipient of the University's Founders Day Award. He also earned his MBA
from Columbia Business School. Mr. Schreiber is a member of the AIG Senior
Ms. Machon joined AIG Asset Management (Europe) Limited in 1998 as Director,
Credit and Emerging Markets. She was appointed Global Head of Asset Management
in January 2009. In this role, she was responsible for managing AIG insurance
assets and leading a multinational investment team comprising over 175 global
professionals. Previous roles at AIG include Head of Fixed Income, CEO of AIG
Asset Management (Europe) Limited, and Global Head of Emerging Markets Fixed
Income. Prior to joining AIG, Ms. Machon worked with Barclays Capital,
Providian (now Aegon USA), Northwestern Mutual Life, and INB. Ms. Machon holds
a Doctor of Jurisprudence and MBA (Finance) degrees from Indiana University,
and a B.S. in Business Administration from Rockhurst University. She is a
member of the Wisconsin Bar and a CFA charter holder. Ms. Machon is a member
of the AIG Senior Leadership Team.
Mr. Cornell joined AIG in 1994 and most recently served as North American
Regional Chief Investment Officer, responsible for developing strategic asset
allocation and managing investment portfolios for the AIG Property Casualty
North America region and other AIG Corporate functions. In this new role, Mr.
Cornell will oversee certain public market portfolios, including High Grade
and High Yield Corporate Debt, Municipal Securities, and Investment Strategy &
Sovereign Research. Mr. Cornell is a graduate of Bryant University and earned
an MBA degree in Finance from Fordham University. He is a CFA charter holder.
Certain statements in this press release constitute forward-looking
statements. These statements are not historical facts but instead represent
only AIG’s belief regarding future events, many of which, by their nature, are
inherently uncertain and outside AIG’s control. It is possible that actual
results will differ, possibly materially, from the anticipated results
indicated in these statements. Factors that could cause actual results to
differ, possibly materially, from those in the forward-looking statements are
discussed throughout AIG’s periodic filings with the SEC pursuant to the
Securities Exchange Act of 1934.
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.
Additional information about AIG can be found at www.aig.com | YouTube:
www.youtube.com/aig |Twitter: @AIG_LatestNews| LinkedIn:
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.
Jon Diat, 212-770-3505
Liz Werner, 212-770-7074
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