NEW YORK—American International Group Inc. has made several executive-level appointments, according to an internal memorandum circulated Monday.
Jeff Hurd was named senior vp and head of human resources at the New York-based company. Mr. Hurd, formerly AIG's chief administrative officer, has held numerous senior roles and previously served as head of asset management restructuring and interim president of AIG Global Real Estate, the memo states. He replaced Andrew Kaslow, the human resources chief who departed last fall.
AIG also hired Michael Cowan as vp and chief administrative officer. Mr. Cowan is a former longtime executive at Merrill Lynch & Co. and most recently served as senior vp of global corporate services at the Wall Street firm.
Messrs. Hurd and Cowan, who will be based in New York, will report directly to CEO Robert Benmosche, who told employees in the memo that the organizational changes will “help increase our momentum and strengthen our organization.”
The appointments come after last week's resignation of Anastasia Kelly, AIG's general counsel and vice chairman for legal, human resources and corporate affairs. Ms. Kelly left in connection with federal salary caps imposed on executives that took government bailout funds. In addition, Suzanne Folsom, chief compliance and regulatory officer, also left the firm. AIG said last week it is looking for successors for the duo.
Nicholas Ashooh, senior vp of communications, also has resigned, the memo said. He has been replaced by Christina Pretto, who currently is vp of corporate media relations for AIG.
In the memo, Mr. Benmosche told employees to remain focused on “core priorities” including “repaying taxpayers, strengthening our business, and serving clients.”
Separately, AIG has entered into an agreement to sell its Canadian mortgage insurance business to a private investor group headed by the Ontario Teacher’s Pension Plan, the group said in a release Tuesday.
Toronto-based AIG United Guaranty Mortgage Insurance Co. Canada has assets of about $264 million.
Toronto-based Teachers’ Private Capital is the private investment department of the Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada, the release said.
Terms of the transaction were not disclosed.