Buffett to Rubenstein Benefit From AIG Management ExodusBy
The exodus of executives from American International Group Inc. provided opportunity for financial firms including Warren Buffett’s Berkshire Hathaway Inc. and David Rubenstein’s Carlyle Group LP, while raising concerns that AIG is losing valuable experience.
The insurer had to make “tough choices,” Chief Executive Officer Peter Hancock said Tuesday when asked about recent departures. “There are many people that you may have read about who have gone to work for competitors over the last nine months. But this is part of our reshaping into a more nimble, agile company.”
The table below lists some managers who left.
|Name||Hired by||New Role||Announced|
|N. Alexandru||Aspen||Head, crisis management||July|
|M. Beck||Everest||Chief operations officer, Mt. Logan||April|
|B. Benjamin||XL||Head, M&A insurance||June|
|Sean Berry||Everest||Head, international property facultative||May|
|D. Delaney||Kingstone||SVP, business development||April|
|Dorian Grey||Starr||President, Latin America||July|
|C. Hawkes||XL||Claims manager, private clients||July|
|J. Hegeman||Starr||Political risk team||April|
|D. Herzog||Ambac||Board member||March|
|B. Inselberg||Starr||SVP, financial lines||June|
|R. Johnston||QBE||CEO, North America||May|
|R. Katzman||Argo||Chief actuary||May|
|S. Kennedy||Allianz||SVP, North America Life||February|
|M. LoPiccolo||Axis||Manager, U.S. distribution||June|
|F. Mike-Mayer||Argo||Chief underwriting officer||January|
|Emma Osgood||Berkshire||Head of cyber, Australia||July|
|Ann Owen||XL||Underwriting chief, private clients||July|
|David Price||CNA||Underwriting chief, Canada||August|
|Rahul Samant||Delta Air||Chief information officer||February|
|David Sandler||Everest||Leader, risk management||May|
|M. Scherzer||Everest||Head, structured solutions||June|
|B. Schreiber||Carlyle||Co-head, financial services||June|
|M. Stevens||Chubb||Chairman, aviation||June|
|D. Valzania||Berkshire||Regional leader, broker engagement||April|
|T. Williams||Allianz||Regional leader, environmental impairment||December|
Note: Company names have been abbreviated for space.
— With assistance by Sonali Basak
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