American International Group Inc. (AIG) announced that EVP Brian Schreiber has been named deputy chief investment officer. To succeed Schreiber, Monika Machon was named AIG's new treasurer, effective immediately, she will report to David Herzog, AIG's CFO. In addition, Geoffrey Cornell has also been named deputy chief investment officer by the insurer. Both Schreiber and Cornell will report directly to William Dooley, EVP, investments.
AIG says Schreiber will oversee a portfolio of specialized asset classes, including private placements, structured products, direct investments, real estate investments, private equity and hedge funds, commercial asset finance, and the remainder of AIG legacy assets. Schreiber joined AIG in 1997 as a portfolio manager for AIG Global Investments Group. He was appointed AIG treasurer in August 2011.
Machon joined AIG Asset Management (Europe) Ltd. in 1998 as director, credit and emerging markets, says AIG. She was appointed global head of asset management in January 2009. Previous roles at AIG include head of fixed income, CEO of AIG Asset Management (Europe) Ltd., and global head of emerging markets fixed income. Prior to joining AIG, Machon worked with Barclays Capital, Providian (now Aegon USA), Northwestern Mutual Life, and INB.
AIG says Cornell joined the company in 1994 and, most recently, served as North American regional chief investment officer, responsible for developing strategic asset allocation and managing investment portfolios for the AIG Property Casualty North America region and other AIG Corporate functions. Cornell will oversee certain public market portfolios, including high-grade and high-yield corporate debt, municipal securities, and investment strategy & sovereign research.
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