Peter Hancock (businessman)

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.

Peter Hancock

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. "Management Leadership". AIG. Retrieved 8 April 2015.
  2. Russolillo, Steven (10 June 2014). "Meet Peter Hancock, AIG's New CEO". Wall Street Journal. Retrieved 8 April 2015.
  3. 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.


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