Ex-AIG Head Denies Cuomo Oversaw Cuts to $100 Million in Bonuses
- Former CEO Dooley testifies as ex-staff try to win back pay
- Former AIG workers say political pressure influenced company
Photographer: Michael Nagle/Bloomberg
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An ex-chief executive officer of AIG’s Financial Products unit repeatedly told a U.K court that political and media pressure didn’t influence the company’s decision to “wipe out” a $600 million employee bonus pool during the financial crisis.
“We had pressure from all different places, it doesn’t mean we agreed with the pressure,” William Dooley, who was head of AIGFP between March 2008 and December 2015, told the court Thursday. “It’s not the case that we caved. I’m not suggesting that any of this pressure had any effect on our decision not to pay.”