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FILES-SKOREA-US-AIG-GREENBERG
(FILES) American Maurice R. Greenberg, Chairman of the US-Korea Business Council and Chairman of American International Group, Inc.(AIG), answers questions from journalists during a press conference at a hotel in Seoul, in this 27 June 2003 file photo. American International Group (AIG), the insurance giant rescued on September 16, 2008 by the US government, grew over the last 90 years from a small firm founded in China to a goliath of global finance before it ran into legal trouble and dramatic financial losses. Maurice "Hank" Greenberg, the son of a New York confectioner, joined AIG in 1962 and transformed the company over the years, rising in 1969 to the position of CEO as Starr's hand-picked successor. He remained in that position until 2005. Under his leadership AIG adopted new products and services, such as risk management services for large companies, and broadened its offerings outside of its core insurance offerings into other financial areas.In 2005, the company was hit by allegations of fraud, forcing Greenberg to step down.After his departure, Greenberg remained an important shareholder and criticized the company's new leadership.He was replaced by Martin Sullivan, who resigned in June amid huge losses and falling share value. Sullivan was succeeded by Bob Willumstad, a former Citigroup executive who had served as chairman of the company's board of directors. AFP PHOTO/CHOI JAE-KU/FILES
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Detalii fotografie |
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SEOUL, REPUBLIC OF KOREA |
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AFP / Mediafax Foto |
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| Fotograf: |
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CHOI JAE-KU |
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| Data: |
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27 Iunie 2003 |
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1428 x 2048 (394.17 KB) |
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