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NEW YORK—American International Group Inc. said Wednesday that it has hired a former Morgan Stanley executive as head of strategic planning.
Prior to joining New York-based AIG, Peter Juhas was a managing director in the investment banking division of Morgan Stanley, specializing in insurance and diversified financial companies for the New York-based financial services firm. During the past three years, Mr. Juhas served as lead adviser to the Federal Reserve Bank of New York and the U.S. Department of the Treasury on AIG-related issues. Mr. Juhas also served as the lead adviser to the U.S. Treasury regarding the conservatorship of mortgage lenders Freddie Mac and Fannie Mae.
AIG says Mr. Juhas will help it continue its effort to move toward independence in the wake of the 2008 government bailout of the firm.
Strategic plans
Mr. Juhas will develop plans for a company that has announced many efforts to strengthen itself in recent months. This month, AIG reorganized its global property/casualty insurance unit Chartis Inc. After a $6.9 billion payment in March, Treasury reported that AIG has repaid 70% of its TARP bailout funds.
“As we intensify our focus on growth and sustainable returns, Pete will play a key role in our identifying and capitalizing on the best opportunities available to our industry-leading franchises,” said Brian T. Schreiber, AIG executive vp, treasury and capital markets, to whom Mr. Juhas will report.
NEW YORK (Reuters)—American International Group Inc. has repaid another $6.9 billion of its bailout, the U.S. Treasury said Tuesday.