AIG Adds BlackRock's Fisher to Board as Tighter Regulation Looms

AIG taps Peter Fisher's global experience with the regulation of financial services companies, including his work with the Treasury Department undersecretary for domestic finance and at the Federal Reserve Bank of New York.

INN Breaking News, March 14, 2014

Zachary Tracer

(Bloomberg) -- American International Group Inc. selected Peter Fisher, a former BlackRock Inc. executive and U.S. government official, to join the board of directors as the insurer prepares for increased federal oversight.

Fisher, 57, is a senior fellow at Dartmouth College’s Tuck School of Business, and previously oversaw fixed-income portfolio management at BlackRock, the world’s largest money manager. He’s also worked as the Treasury Department undersecretary for domestic finance and at the Federal Reserve Bank of New York, according to a statement today from AIG. Fisher is a consultant to the BlackRock Investment Institute.

Fisher has “tremendous knowledge and unique perspectives in asset management and government,” AIG Chairman Steve Miller said in the statement. “Fisher’s global experience with the regulation of financial services companies will allow him to provide valuable insight.”

Also see Insurance Firms Attempt to Escape U.S. Bank Capital Requirements

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