AIG Unit Says Exec Retires

John Cappetta will depart March 1.
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AIG Financial Products said John Cappetta, executive vice president and head of North American marketing, will retire March 1.

The

American International Group

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unit said David Ackert, Rob Leary and Alan Frost will split Cappetta's responsibilities.

"John has been a valuable part of the AIG Financial Products team; he has led strategic marketing efforts that have strengthened our business and our position as one of the elite global providers of corporate finance, investment and financial risk management solutions," said Joe Cassano, president of AIG-FP. "We are proud of what John has accomplished and we wish him well as he moves on to the next phase of his life. Our firm has never been better positioned to capitalize on the opportunities in the marketplace."

Ackert, who is head of the AIG-FP Transaction Development Group and the Energy Group, will now oversee corporate marketing. Leary, who is head of the North American Investor Group covering pension funds, money managers and foundations and endowments, will now also oversee an expanded group that includes hedge funds and high net worth investor coverage. Alan Frost, who will now report directly to Cassano, will head AIG-FP's business efforts with U.S. investment banks and dealers as well as structured securitizations.

Jon Liebergall continues as head of the Municipal Finance Group.