AIG has announced the appointment of Mr Peter Zaffino as Executive Vice President, Global Chief Operating Officer effective August 1. Mr Zaffino joins AIG after serving as Chief Executive Officer of Marsh LLC - a leading global insurance brokerage and risk management firm and subsidiary of Marsh & McLennan Companies, Inc. (MMC) - and as Chairman of the Risk and Insurance Services segment of MMC since 2015. He was also a member of MMC's Executive Committee since 2008.
In his role at AIG, Mr Zaffino will lead the day-to-day business of all country operations, including U.S. Commercial field operations and AIG’s Multinational organization, as well as Global Business Services, Administration and Communications. Working closely with the CEO and Executive Leadership Team, he will develop AIG’s long-term strategy and operating plan, and be responsible for executing the Commercial and Consumer strategies to achieve growth and profitability objectives.
Mr Zaffino has over 25 years of experience in the insurance and reinsurance industry. Prior to being named Marsh CEO in 2011, he was President and CEO of Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a subsidiary of MMC, having previously held a number of senior roles at the firm. Prior to joining Guy Carpenter in 2001, he held several senior positions, including serving in an executive role with a GE Capital portfolio company. Mr Zaffino earned a BA in economics from Boston College and an MBA in finance from New York University’s Leonard N. Stern School of Business.