NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG) announced today that Lucy Fato will join the company as Executive Vice President and General Counsel, effective October 16. Ms. Fato is currently Managing Director, Head of the Americas and General Counsel at the global investigations firm Nardello & Co. Earlier in her career, she served as Vice President, Deputy General Counsel and Corporate Secretary at Marsh & McLennan Companies (MMC).
At AIG, Ms. Fato will oversee the Global Legal, Compliance, Regulatory and Government Affairs function, and will report to AIG President and Chief Executive Officer Brian Duperreault. She will also serve as a member of AIG’s Executive Leadership Team, and will participate in all strategic and policy decisions affecting the company’s operations. Ms. Fato succeeds Peter Solmssen, who has served as AIG’s General Counsel since 2016 and is returning to retirement.
“I had the privilege of working with Lucy at MMC and know firsthand that she is an incredibly accomplished executive and strategic partner,” said Mr. Duperreault. “Her experience of more than 25 years working across a variety of complex legal, compliance, regulatory and corporate governance matters will be a strong addition to our leadership team as we grow AIG and build long-term shareholder value.”
Mr. Duperreault continued, “I want to thank Peter for his contributions and exceptional service to AIG. We wish him well in his retirement.”
Ms. Fato said, “I am honored to be joining Brian and the Executive Leadership Team at one of the world’s iconic companies. Having worked with Brian throughout his tenure at MMC, I have tremendous admiration and respect for all that he has accomplished over his career. I look forward to working with him again at this pivotal time in AIG’s history and collaborating with the many talented colleagues across the organization.”
At Nardello & Co., Ms. Fato has overseen the firm’s North American and South American practices in addition to acting as the firm’s global General Counsel. She will continue to serve the firm in an advisory capacity. Prior to Nardello & Co. and after MMC, Ms. Fato was Executive Vice President and General Counsel of McGraw Hill Financial (now known as S&P Global). Ms. Fato began her legal career in 1991 at the law firm Davis Polk & Wardwell, where she spent 14 years, including five as a partner in the capital markets group.
Ms. Fato is on the Board of Trustees of the Randall’s Island Park Alliance. She graduated Phi Beta Kappa from the University of Pittsburgh with a B.A. in Business and Economics, and she received her J.D. from the University of Pittsburgh School of Law. She is admitted to the State Bars of New York and California.
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American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG’s core businesses include Commercial Insurance and Consumer Insurance, as well as Other Operations. Commercial Insurance comprises two modules – Liability and Financial Lines, and Property and Special Risks. Consumer Insurance comprises four modules – Individual Retirement, Group Retirement, Life Insurance and Personal Insurance. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.