This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

AIG Hires Deputy CFO

NEW YORK ( TheStreet) -- American International Group (AIG - Get Report) said Thursday that it has hired a finance executive from Gamco Investors to serve as deputy chief financial officer.

Jeffrey M. Farber will oversee AIG's controllership and accounting policy functions as well as its global tax department. He will report to CFO David Herzog.

"Jeff Farber is well prepared to help take these key AIG finance functions to an even higher level," Herzog said in a statement.

The hire is AIG's latest move to improve its risk management and controls. The insurance giant has also brought on board Charlie Shamieh as chief actuary; Mark Scully to oversee actuarial functions at its main property and casualty division, Chartis; Sid Sankaran as chief risk officer; and former Federal Reserve official Brian Peters to also help manage risk in an executive position.

The addition of actuarial and risk-management talent comes in tandem with a disappointing fourth-quarter report and a disclosure that Chartis had to bolster reserves by $4 billion to cover unexpected claims.

"Over the past several years the finance team has worked diligently through an extraordinarily complex restructuring," said Herzog, "and this new role provides Jeff with an opportunity to lead a great team and work closely with the finance transformation team as we roll out our new financial platform."

Farber most recently served as CFO at Gamco, a wealth management and investment firm. Before that, he was senior vice president of finance and controller at Bear Stearns, and an audit partner at Deloitte and Touche.

AIG shares were recently up 1.1% at $37.71.

-- Written by Lauren Tara LaCapra in New York.



>To contact the writer of this article, click here: Lauren Tara LaCapra.

>To follow the writer on Twitter, go to http://twitter.com/laurenlacapra.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AIG $55.57 0.43%
AAPL $129.58 0.87%
FB $79.66 0.87%
GOOG $560.50 0.38%
TSLA $196.91 -3.20%

Markets

DOW 18,244.46 +111.76 0.62%
S&P 500 2,112.89 +8.39 0.40%
NASDAQ 4,997.7750 +34.2480 0.69%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs