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AIG CEO Says Too-Big-to-Fail Exit Not Among Top Priorities

  • Focusing on regulation can be ‘hugely distracting,’ CEO says
  • Hancock’s remarks are reassuring to bondholders, analyst says
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American International Group Inc. Chief Executive Officer Peter Hancock said he’s more focused on boosting returns than worrying about the government’s classification of his company as too big to fail.

“Of all of the strategic issues that we face as a leadership team, this doesn’t even make the top 10,” Hancock said Tuesday at a conference, when asked about the company’s status as a non-bank systemically important financial institution, a tag that can bring tighter capital rules. Seeking to reverse that label would be “hugely distracting to management and is based on a flawed premise that the binding constraint holding us back from returning more capital to shareholders is the regulatory framework that we have from the Federal Reserve.”