Robert H. Benmosche

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Robert H. Benmosche
RobertH.Benmosche.jpg
Occupation Former President and CEO
Employer AIG

Robert H. Benmosche is the former president and CEO of AIG, an insurer majority-owned by the government. He assumed the role on Aug. 10, 2009, with the retirement of the previous chairman and chief executive officer, Edward M. Liddy. He stepped down in August of 2014.


Benmosche in December of 2011 said he wished to remain CEO past 2012, despite a fight with cancer and initial plans to stay in the position only three years.[1]

Benmosche was AIG's third CEO in less than a year. Under his approved pay package, Benmosche would get total compensation of about $10.5 million.[2]

Benmosche was also elected a member of AIG's board of directors.[3]

In June 2014 it was announced that AIG had named Peter D. Hancock, head of its property casualty business, to replace Benmosche as president and chief executive officer effective Sept. 1. Benmosche is expected to resign from AIG's board and assume a role as advisor to Hancock, AIG said.[4]

Background

Benmosche is former chairman, president, and CEO of MetLife, a provider of insurance and other financial services. He led the transition of MetLife from a mutual to a public company in 2000. He joined MetLife in 1995 as executive vice president responsible for business integration and product development, marketing and sales efforts focused on MetLife’s individual customers.

Benmosche joined MetLife in 1995 from PaineWebber, the investment bank, where he directed the merger of Kidder Peabody into PaineWebber. While at MetLife, Benmosche oversaw the insurer's conversion from a mutual company to a public corporation. He also orchestrated several major deals, including the $11.5 billion acquisition of Travelers Life & Annuity from Citigroup in 2005.[5]

Benmosche worked as a computer consultant from 1966 to 1975 and joined Chase Manhattan Bank to work on its systems group.[6]

He spent 13 months in Korea in the U.S. Signal Corp. during the Vietnam War.

Education

He majored in math at Alfred University.

References

  1. AIG Says Chief Executive Benmosche May Remain in Top Job Beyond Next Year. Bloomberg.
  2. WSJ: AIG CEO Robert Benmosche Ready To Quit Over Pay Constraints. Huffington Post.
  3. AIG Board of Directors Elects Robert H. Benmosche President and CEO. AIG.
  4. AIG Names Peter D. Hancock New CEO. The Wall Street Journal.
  5. AIG's New Boss: Robert Benmosche. BusinessWeek.
  6. A Dossier on AIG’s New Chief Benmosche: The Man Who Downsized Snoopy. The Wall Street Journal.
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