By Noah Buhayar, Bloomberg News
American International Group Inc. named Lucy Fato, a veteran of Marsh & McLennan Cos. and a current executive at global investigations firm Nardello & Co., its general counsel.
Fato will take the post on Oct. 16 and succeed Peter Solmssen, who’s been general counsel since 2016 and is returning to retirement, the New York-based insurer said in a statement Tuesday. Fato will oversee global legal, compliance, regulatory and government affairs for AIG, and will report to Chief Executive Officer Brian Duperreault.
Since taking over at AIG in May, Duperreault has brought on managers to help turn around the insurer. The company said in early July that Peter Zaffino, who worked under Duperreault at Marsh & McLennan, was joining as chief operating officer. Later in the month, AIG announced plans to hire Seraina Macia, formerly a top executive for Duperreault at Hamilton Insurance Group, as CEO of a new commercial-insurance unit.
“I had the privilege of working with Lucy at MMC and know firsthand that she is an incredibly accomplished executive and strategic partner,” Duperreault said in the statement.
“Her experience of more than 25 years working across a variety of complex legal, compliance, regulatory and corporate governance matters will be a strong addition to our leadership team as we grow AIG and build long-term shareholder value.”
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