Peter Hancock (businessman)

Peter Hancock

Peter D. Hancock is the former president and chief executive officer (CEO) of AIG.[1] He resigned his position of president on 9 March 2017.

Biography

Hancock was born in London, but raised in Hong Kong.[2] He returned to the UK to attend Oxford University, where he received a B.A. in Politics, Philosophy, and Economics.[1][2]

Career

Hancock has spent his entire career in financial services, including 20 years at J.P. Morgan, where he founded the Global Derivatives Group in 1991.[2] He left J.P. Morgan in 2000 after serving as both chief financial officer and chief risk officer when the company merged with Chase Manhattan Bank. He then started a financial advisory firm named Trinsum with other J.P. Morgan alumni, before being recruited by KeyCorp during the financial crisis in 2008, where he became vice-chairman.[3][4]

In 2010, at the recommendation of officials at PricewaterhouseCoopers and the Federal Reserve Bank of New York, Hancock was hired on as executive vice-president of Finance, Risk and Investments at AIG by the then-CEO, Bob Benmosche.[3][5]

Hancock served as chief executive officer of AIG from 1 September 2014 to 9 March 2017.[6] AIG paid $67.3 million to its chief executive officers in 2017, with part of the payment going to Hancock who resigned under pressure from activist investors as his turnaround plan suffered setbacks.[7]

In March 2021, Hancock joined the board of directors of Ledger Investing.[8]

Honors

Hancock is a member of the Board of the Japan Society,[9] as well as a member of the International Advisory Board of British American Business.[10] He is also a William Pitt Fellow of Pembroke College, Cambridge.[1]

References

  1. ^ a b c "Management Leadership". AIG. Retrieved 8 April 2015.
  2. ^ a b c Russolillo, Steven (10 June 2014). "Meet Peter Hancock, AIG's New CEO". Wall Street Journal. Retrieved 8 April 2015.
  3. ^ a b Ng, Serena (16 September 2011). "AIG's Man in the 'Risk' Trenches". Wall Street Journal. Retrieved 8 April 2015.(registration required)
  4. ^ "Peter D. Hancock: Executive Profile & Biography". Bloomberg Business. Retrieved 8 April 2015.
  5. ^ Bansal, Paritosh (8 February 2010). "RPT-AIG hiring KeyCorp exec to oversee finance, risk". Reuters. Retrieved 22 July 2015.
  6. ^ "AIG Names Peter D. Hancock President and CEO". Retrieved 23 July 2018.
  7. ^ Scism, Leslie (27 March 2018). "AIG Paid $67.3 Million in 2017 to Departing CEO and His Successor". Wall Street Journal. ISSN 0099-9660. Retrieved 23 July 2018.
  8. ^ "Ledger Investing adds ex-AIG CEO Peter Hancock to board - Reinsurance News". ReinsuranceNe.ws. 1 April 2021. Retrieved 8 April 2022.
  9. ^ "Japan Society 2012-2013 Annual Report" (PDF). Japan Society. Retrieved 8 April 2015.
  10. ^ "International Advisory Board". About Us: BritishAmerican Business. Archived from the original on 9 May 2015. Retrieved 12 May 2015.
Business positions
Preceded by CEO of AIG
2014 – 2017 		Succeeded by


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