Peter Hancock (businessman)
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Peter D. Hancock is the former president and chief executive officer (CEO) of AIG.[1] He resigned his position of president on March 9, 2017.
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 September 1, 2014 to March 9, 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]
Honors[]
Hancock is a member of the Board of the Japan Society,[8] as well as a member of the International Advisory Board of BritishAmerican Business.[9] He is also a William Pitt Fellow of Pembroke College, Cambridge.[1]
References[]
- ^ a b c "Management Leadership". AIG. Retrieved 8 April 2015.
- ^ a b c Russolillo, Steven. "Meet Peter Hancock, AIG's New CEO". Wall Street Journal. Retrieved 8 April 2015.
- ^ a b Ng, Serena. "AIG's Man in the 'Risk' Trenches". Wall Street Journal. Retrieved 8 April 2015.(registration required)
- ^ "Peter D. Hancock: Executive Profile & Biography". Bloomberg Business. Retrieved 8 April 2015.
- ^ Bansal, Paritosh. "RPT-AIG hiring KeyCorp exec to oversee finance, risk". Reuters. Retrieved 22 July 2015.
- ^ "AIG Names Peter D. Hancock President and CEO". Retrieved 2018-07-23.
- ^ Scism, Leslie (2018-03-27). "AIG Paid $67.3 Million in 2017 to Departing CEO and His Successor". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-07-23.
- ^ "Japan Society 2012-2013 Annual Report" (PDF). Japan Society. Retrieved 8 April 2015.
- ^ "International Advisory Board". About Us: BritishAmerican Business. Archived from the original on 9 May 2015. Retrieved 12 May 2015.
- Living people
- British chief executives
- British corporate directors
- American International Group people
- Alumni of the University of Oxford
- Chief executives in the finance industry
- Chief financial officers
- Business biography stubs