AIG's Risk Management Team Largely Intact

 

Saturday, Mar 28,2009, 9:59:27 PM   Click:

Copyright: United Press International
Source: UPI Business News
Wordcount: 197

Big changes in direction between the beleaguered companies like American International Group Inc. May not be the wisest move, an executive consultant said.

Deborah Cornwall, managing director at the Corlund group, said finding executives with skills could be a problem for companies owned by the government, given the restrictions on pay conditions, The Wall Street Journal reported Friday.

At AIG, the credit risk has remained largely intact, despite the terms of $ 40 billion of government loans in November that required the company to create a new Risk Management Committee, the newspaper said.

In a statement, AIG said it was committed to risk management.

Recently, in accordance with the terms of United States Treasury prefers investment in AIG, the company said the authority on the Board of Directors is now called the Finance Committee and risk said the statement.

However, the committee includes Robert Lewis, who was head of business risks since 2004. AIG's Chief Credit Officer Kevin McGinn, Chief Investment Officer Win Neuger AIG, AIG and Head of Financial Services William Dooley are also longstanding members, the Journal said.

The Journal said a spokesman for AIG said that five members of the Risk Committee declined to comment.