AIG Names Marilyn Hirsch as Senior Vice President, Treasurer
American International Group announced that Marilyn Hirsch has returned to AIG as Senior Vice President, Treasurer, effective immediately. She reports to Shane Fitzsimons, Executive Vice President and Chief Financial Officer, AIG.
Ms. Hirsch leads AIG’s global Treasury activities, including financing plans, banking and rating agency relations, and management of capital and liquidity.
“As we continue our journey to become a top performing company, Marilyn’s more than 30 years of global experience, leadership skills and deep subject matter expertise will guide the Treasury team’s critical work in advancing AIG’s strategic priorities, especially capital management, and the optimization of AIG’s capital structure as part of the separation of the Life and Retirement business from AIG and related IPO,” said Mr. Fitzsimons.
Ms. Hirsch said: “AIG’s capital management goals, eagerness to continuously improve systems and processes, and dedication to strong relationships with external stakeholders are all compelling opportunities for the Treasury team. I look forward to the contributions we will make in this diligent pursuit of excellence and commitment to delivering value.”
Ms. Hirsch rejoined AIG from the Allstate Corporation where she served as Senior Vice President & Treasurer. Her responsibilities spanned Treasury, Corporate Financial Planning and Analysis (FP&A), Corporate Development, Corporate Expense Management and Start-up Engagement. From 2011 to 2015, Ms. Hirsch held various leadership positions at AIG, the most recent being Head of Strategy – AIG Property Casualty. She also served on AIG Israel’s Board of Directors during her time at AIG. Ms. Hirsch holds Bachelor of Science degrees in Civil Engineering and Economics/Finance from the Jerome Fisher Management and Technology Program at the University of Pennsylvania and a Master of Science in Finance from the University of California, Berkeley.
In addition, Kathleen Carbone has been named Vice President and Chief Accounting Officer, AIG, effective March 1, 2022 reporting to Mr. Fitzsimons. She will succeed Elias Habayeb, who was named Chief Financial Officer for AIG’s Life and Retirement business in October 2021 and will continue to serve as AIG’s Chief Accounting Officer through February 2022. Since May 2021, Ms. Carbone has served as Vice President, Finance.
Mr. Fitzsimons said: “Kathleen brings outstanding financial reporting acumen and deep institutional knowledge of AIG to the role of Chief Accounting Officer. She is already an integral member of the Finance leadership team, and I am thrilled that she is taking on this role.”
From 2012 through 2020, Ms. Carbone held various positions at AIG, including Group Controller from October 2018 through July 2020, Corporate Controller from September 2016 through October 2018 and Senior Director of SEC Reporting and Analytics from June 2015 through August 2016. Prior to joining AIG in 2012, Ms. Carbone worked for the accounting firm PriceWaterhouseCoopers LLP for nearly 12 years.
Photo: Business Wire
Everest Appoints Industry-Leading Reinsurance Executive Jill Beggs to Senior Vice President and Head of North America Reinsurance
Everest Re Group, Ltd. announced that reinsurance industry leader Jill Beggs will join the company as Senior Vice President and Head of North America Reinsurance effective November 15, 2021. Beggs will oversee the strategic direction of Everest’s reinsurance business in the United States, Canada, and Bermuda, and will report directly to Jim Williamson, Everest Group COO and Head of Reinsurance. This newly created role, along with the ongoing investments in the company’s reinsurance talent are designed to strengthen Everest’s leading market position and accelerate progress toward its strategic plan objectives outlined to investors earlier in the year.
“Everest’s leading global market position is fueled by exceptional talent. Adding Jill’s tremendous reinsurance experience to our seasoned team helps us to further capitalize on it,” said Juan C. Andrade, Everest President and CEO. “Everest is building a well-diversified, world-class organization set apart by our people, value proposition and entrepreneurial culture. We will continue to invest in the strength of our reinsurance and insurance franchises, positioning Everest to support future growth and create even greater value for our colleagues, customers and our shareholders.”
Beggs comes to Everest with 30 years of deep reinsurance underwriting expertise. Beggs joins Everest from Munich Re where, over the last 20 years, she held various key roles leading U.S. treaty and facultative programs across multiple lines of business. She is also credited with spearheading the company’s innovation incubator and E&S insurance start-up. Beggs spent the first 10 years of her career at Everest in treaty property underwriting in the U.S. and Latin America. Beggs is a prolific industry thought leader, and the recipient of numerous industry honors and awards.
“I’m thrilled to be returning to my roots with the incredible opportunity to build on the strength of Everest’s reinsurance franchise,” said Jill Beggs. “Everest has always been known for exceptional quality and long-standing relationships with its brokers and cedents. I plan to optimize this position and further solidify Everest as an industry leader.”
The company also announced that Everest Insurance leader Connie Germano will be transitioning to its reinsurance division as Senior Vice President, Treaty Casualty & Surety. Germano brings 35 years of casualty underwriting experience to the role and will report directly to Beggs. Most recently Germano was President of Specialty Casualty at Everest Insurance. Prior to that, she held senior casualty underwriting roles with ACE in the U.S. and Zurich, Switzerland. Germano succeeds Everest Reinsurance veteran Dennis Alba, who will retire in 2022 after a very successful 40-year career in the industry.
“Jill is a widely-recognized industry talent who brings an extraordinary depth of experience leading teams through growth and transformation,” said Jim Williamson, Group COO and Everest Head of Reinsurance. “This newly created position, combined with our recent promotions and appointments, is directly tied to our long-term strategy of solidifying our position as a leading global reinsurer. As we continue to position the business for the future, we are expanding advancement opportunities for our people that will ultimately better serve the market.”
Williamson added, “I want to thank Dennis for his significant contributions to Everest, and welcome Connie, who is a proven, capable leader, and highly respected by our clients and colleagues. Connie’s underwriting depth and experience gives us a strategic advantage as we continue to invest in one of our most successful and thriving businesses.”
HSBC appoints Alyssa Marois as Senior Vice President of Public Affairs
HSBC Bank USA announced that Alyssa Marois has joined HSBC as Senior Vice President of Public Affairs.
She will be based in Washington, D.C. and will report to Christopher Rosello, US Head of Public Affairs.
“Alyssa’s experience in both the federal government and financial services industry adds significant value to our team as we work closely with policymakers, regulators, and elected officials,” said Rosello. “We are excited to utilize Alyssa’s exceptional skillset to further support HSBC’s policy priorities.”
In her new role, Marois will represent the firm with regards to public policy and government relations and be responsible for engaging members of Congress and the regulatory community.
“I’m thrilled and honored to join HSBC, and I look forward to working closely with regulators, legislators and government agencies to further the interests of our clients, shareholders and employees,” said Marois.
Marois joins HSBC from JP Morgan Chase & Co. where she was vice president of Federal Government Relations. Previously, she also served as legislative director to now U.S. Senator Kyrsten Sinema of Arizona, legislative assistant to former U.S. Senator Ben Nelson of Nebraska, and vice president of government affairs at PNC Financial Services Group, Inc. She received her bachelor’s degree in political science from the University of Florida.
Peak Re appoints Karlheinz Render as Senior Vice President Europe for its Subsidiary in Switzerland
Peak Reinsurance Company AG (“Peak Re AG”), the wholly-owned European subsidiary of the Hong Kong-based global reinsurer, Peak Reinsurance Company Limited (“Peak Re”), announced the appointment of Karlheinz Render as Senior Vice President Europe, effective August 1st, 2021.
Mr. Render will develop Peak Re’s market position in Europe, by leveraging off the foundations established by Peak Re; namely in the Property & Casualty (P&C) markets of the DACH region. Based on his extensive experience in client markets and underwriting in the reinsurance industry, Mr. Render will be responsible for developing and maintaining client relationships in the region by providing tailored solutions to support clients’ growth aspirations. Mr. Render succeeds Emmanuel Thommen, former Senior Vice President at Peak Re AG, who has announced his retirement. Mr. Render will report to Matteo Cussigh, Chief Executive Officer of Peak Re AG. He will be based in Zurich.
Mr. Render will join Peak Re AG from Swiss Re, where he served in various client management and underwriting roles over nearly three decades. Most recently, he led Swiss Re’s large clients division in Germany and was accountable for the inforce and new business development of large German P&C clients. He also served on the leadership team for the Northern, Central and Eastern European P&C markets, with a proven track record in expanding P&C treaty portfolio. Previously, Mr. Render held various responsibilities, including client management and underwriting in France, Belgium, Luxembourg, Spain, Portugal, and Latin America.
Matteo Cussigh, Chief Executive Officer of Peak Re AG commented, “We are delighted to welcome Mr. Render to join our international client markets team. Expanding Peak Re’s franchise in Europe is a key building block in our global diversification and growth strategy. With his extensive experience in Europe, and Peak Re’s proven international underwriting and analytical capabilities, Mr. Render will contribute to strengthening our client relationships on the ground to support our clients.”
Liberty Mutual Insurance Board of Directors Appoints Edward Peña as Senior Vice President and Treasurer
The Board of Directors of Liberty Mutual Insurance announced that Edward Peña has been appointed Senior Vice President and Treasurer. Laurance H.S. Yahia, who served as Senior Vice President and Treasurer since 2003, announced his retirement, which is effective April 3, 2020.
“Ed is a proven leader with the expertise, influence and innovative thinking to continue driving impact and opportunity for our company,” said Liberty Mutual Chairman and Chief Executive Officer David Long. “We are grateful for Larry’s tremendous contributions and dedication to Liberty Mutual, and are committed to building upon his momentum.”
Peña joined Liberty Mutual in 2017 as Vice President and Director of Investor Relations and has been responsible for maintaining and developing the company’s rating agency and investor relationships, and for leading capital modeling and competitive analysis. In 2019, Peña assumed the additional responsibilities of managing the company’s debt and liquidity strategy.
Prior to Liberty Mutual, Peña worked at ProSight Specialty Insurance, where he was Vice President of Finance and led capital and financial planning, mergers and acquisitions, and treasury. He also held roles at J.P. Morgan where he advised investment bank financial institution clients on mergers and acquisitions, and capital structuring, and within Corporate Treasury where he worked on financial and regulatory reporting. Peña has a Master of Business Administration from the Tuck School of Business at Dartmouth College, and an undergraduate degree in Economics and History from Yale University.
Yahia joined Liberty Mutual in 1984 and held roles of increasing responsibility in Legal, Mergers & Acquisitions, Investor Relations and Treasury Services over his 35-year career at the company. Under his leadership, Yahia led key mergers, acquisitions, divestitures and debt transactions throughout his career, and his work was critical to the company’s transformation from a domestic workers compensation and auto insurer to a global top five multi-line property and casualty company.