AIG Names Shane Fitzsimons as New CFO

AIG has named insider Shane Fitzsimons as its new CFO, replacing Mike Lyons, as it prepares to spin off its daily life and retirement enterprise.

Fitzsimons joined AIG in 2019 as international head of shared solutions and was most just lately serving as chief administrative officer. Lyons, who has served as CFO considering the fact that December 2018, will transfer into the freshly produced purpose of international chief actuary and head of portfolio administration.

AIG stated the modifications have been aspect of an exertion to “further position the organization to deliver sturdy fiscal and operational effectiveness around the prolonged phrase and improve its management group as aspect of the separation of the Existence & Retirement enterprise.”

Beneath its AIG two hundred initiative, the insurance provider has been trying to get to cut down its expense ratio and typical operating fees.

“Shane is a seasoned finance and operations executive with a sturdy keep track of record of success,” CEO Peter Zaffino stated in a information release. “His management and main capabilities accelerated the execution of AIG two hundred during the international pandemic and set up a sturdy foundation as we continue to instill a lifestyle of operational excellence across AIG.”

Fitzsimons is a chartered accountant from Ireland and an alumnus of Rockwell University in County Tipperary. In advance of becoming a member of AIG, he used 23 years at GE, which include operational and fiscal management roles across the U.S., Asia, and Europe.

Zaffino stated Lyons’s transfer to the purpose of international chief actuary “will even more reinforce our aim on large-good quality underwriting excellence and portfolio positioning, which underpins AIG’s all round progress strategy.”

AIG also declared that as aspect of its preparations for the daily life and retirement spinoff, Elaine Rocha, at the moment international chief operating officer, reinsurance, has been promoted to international chief expenditure officer. She will start out reporting to Fitzsimons in January 2022.

“Elaine’s wide knowledge and determination to good quality make her the best prospect to direct the investments group that will continue being with AIG as we individual the Existence & Retirement enterprise,” Zaffino stated.

AIG, insurance provider, MIke Lyons, Peter Zaffino, Shane Fitzsimons