Press release from Business Wire
AIG Names Monika M. Machon AIG Treasurer; Brian T. Schreiber, Geoffrey N. Cornell Promoted to AIG Deputy Chief Investment Officers
Thursday, October 31, 2013
AIG Names Monika M. Machon AIG Treasurer; Brian T. Schreiber, Geoffrey N. Cornell Promoted to AIG Deputy Chief Investment Officers16:05 EDT Thursday, October 31, 2013
NEW YORK (Business Wire) -- 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 AIG.”
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 Leadership Team.
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.
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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