Machon named AIG CIO

by David Masters

Story link: Machon named AIG CIO

Insurance giant American International Group (AIG) has named Monika Machon as senior vice president and chief investment officer.

Responsible for insurance company portfolio management, she will report directly to AIG chairman and CEO Edward Liddy.

Machon replaces Win Neuger, who will keep his position as AIG Investments chairman and CEO, and will continue to head up AIG’s external client management business.

In a separate appointment, AIG named Jeffrey Hurd as senior vice president and head of asset management restructuring.

Hurd will overlook the sale of AIG’s external asset management business and the restructuring of its asset management function.

Commenting on the appointments, Liddy said: “These changes will allow AIG to proceed quickly and thoughtfully with the sale of the external client asset management and life insurance businesses.

“In addition, under Monika’s leadership, we will build on our commitment to a strong asset management function for AIG.”