BusinessCompany NewsAIG brings in Herzog as CFO

AIG brings in Herzog as CFO

Embattle insurer appoints comptroller David Herzog as its chief financial officer in moves to address its capital structure and expenses regime

AIG has appointed comptroller David Herzog as its new chief financial
officer.

Herzog, the troubled insurer’s comptroller, replaces Steven Bensinger.
Bensinger was the insurer’s acting CFO, but he has left the company to pursue
other opportunities.

Herzog will play a central role in overseeing the insurer’s plan to address
its capital structure and pay down the credit facility from the Federal Reserve
Bank of New York.

He will also work closely with Chief Administrative Officer Richard Booth in
an enterprise-wide review of expenses and practices, the
company
said.

Herzog has been senior vice president and comptroller of AIG since June 2005.
He joined American General Corp. in February 2000 and, following AIG’s
acquisition of American General in 2001, was appointed Chief Operating Officer
for the combined domestic life insurance companies. He was elected AIG’s Vice
President, Life Insurance in 2003 and was named Chief Financial Officer of AIG’s
Worldwide Life Insurance operations in 2004.

Further reading:

AIG
faces probe for ‘outrageous expenditure’

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