AIG hires new general counsel

American International Group (AIG) has recruited Lucy Fato as executive vice president and general counsel. She will take up her new post on October 16.

In her new role, Fato will oversee AIG’s global legal, compliance, regulatory and government affairs function, reporting to AIG president and CEO Brian Duperreault. She will also serve as a member of AIG’s executive leadership team, and will participate in all strategic and policy decisions affecting the company’s operations. She will take over from Peter Solmssen, who has served as AIG’s general counsel since 2016 and is returning to retirement.

At present, Fato is managing director, head of the Americas and general counsel at global investigations firm Nardello & Co. She will continue to serve the firm in an advisory capacity. Before joining Nardello & Co she was executive vice president and general counsel of McGraw Hill Financial, now S&P Global. Earlier in her career, Fato served as vice president, deputy general counsel and corporate secretary at Marsh & McLennan Companies (MMC).

A spokesperson for Nardello & Co says in a statement: ‘Lucy has made enormous contributions to our firm, both internally and externally, and we are delighted she has agreed to continue working with us in an advisory capacity and is assisting in our search for her replacement – someone of equally high caliber who can lead our Americas practice. Our COO Sabina Menschel and our chief professional officer Tara MacMillan, both of whom have extensive investigative experience, will assume Lucy’s duties in the interim. We wish Lucy well in her new role at AIG.’

‘I had the privilege of working with Lucy at MMC and know firsthand that she is an incredibly accomplished executive and strategic partner,’ Duperreault says in a statement. ‘I want to thank Peter for his contributions and exceptional service to AIG. We wish him well in his retirement.’