AIG Announces SVP, Chief Risk Officer

Sid Sankaran will join American International Group Inc. (AIG) as SVP, chief risk officer, succeeding Robert Lewis, who last month announced that he would retire from AIG following a smooth transition period. Sankaran will report to AIG EVP, Finance, Risk, and Investments, Peter Hancock. Sankaran's direct reports will include the chief risk officers of all AIG business units and the leadership of the Corporate Enterprise Risk Management functions.

Prior to AIG, Sankaran was a partner in Oliver Wyman Financial Services’ finance and risk practice and headed the firm's Toronto office. He had served since 2006 as Canadian Market Manager and recently was a member of the Oliver Wyman Financial Services Global Management Committee, working for the past five years with financial services executives on risk management issues. He also conducted strategy and risk-focused studies of financial services companies, including insurers, banks, securities firms and specialty finance companies in North America and Europe.

"Sid Sankaran comes to AIG with the broad-ranging risk management experience that an enterprise of this scope must have," says Robert Benmosche, AIG President and CEO. "We are on our way to fulfilling our commitment to repay the government; now is the time to concentrate on re-establishing AIG as a world-class insurance organization. Risk management is crucial to that task, and Sid is well qualified to take on this important leadership role."