AIG appoints new CFO and executive VP

by Richard Kilner

Story link: AIG appoints new CFO and executive VP

American International Group, Inc. (AIG) has announced the appointment of David L. Herzog to the posts of chief financial officer and executive vice president.

He succeeds former acting chief financial officer Steven J. Bensinger who has parted ways with the firm.

Herzog has been a senior VP with AIG for the last three years, and first joined the firm in 2001 as chief operating officer when American General Corporation was acquired.

Herzog will report directly to AIG’s CEO and chairman Edward Liddy, and will assume responsibility for the financial operations throughout the firm’s business units.

In addition to this he will supervise the organisation’s plan to pay the credit facility of the Federal Reserve Bank of New York, and to resolve the capital structure of the firm.

Lastly, Herzog will collaborate with the chief administrative officer to conduct a comprehensive review of AIG’s expenses and practices.