Via CNN Money:

AIG hires ex-SEC chair as adviser

Reuters
July 5, 2005

NEW YORK (Reuters) - American International Group, the world's largest insurer by market value that is battling through an accounting scandal, said Tuesday it had hired former U.S. Securities and Exchange Commission Chairman Arthur Levitt.

Levitt has been named a special adviser to its board of directors and the board's nominating and corporate governance committee. Levitt's duties will include advising on potential nominees for election to the board, as well as board procedures, structure and issues of governance.

"He will advise AIG on a wide range of corporate governance matters, work with AIG as it seeks to recruit the best qualified directors to represent all AIG shareholders and assist AIG as it reaches out to all of its shareholders," said AIG President and Chief Executive Martin Sullivan.

Levitt, who was the SEC's longest serving chairman with eight years at the helm, has extensive experience working on Wall Street and is joining AIG just as it begins to emerge from several months of bad news related to its management, accounting and other regulatory matters.

Full article appears here.

Levitt's SEC bio can be found here. Other notable Levitt associations include The Carlyle Group, Risk Metrics, Stagebill and Rollcall.

-- MDT

Labels: AIG