AIG names Cormack CEO of European Operations

American International Group has appointed Ian Cormack as chief executive of European operations. The newly created job will involve overseeing AIG’s insurance, financial services and asset management businesses.

The move is part of AIG’s effort to expand in the region. Cormack served for 31 years at Citigroup, where he was most recently Citibank’s London-based global investment industry head.

“Bringing Ian Cormack on board is a significant step in AIG’s strategy to enhance and expand our European business, and to provide stronger coordination among our insurance and financial services operations across Europe,” AIG chairman Maurice Greenberg said.