We've resolved the debt to the Federal Reserve.The real challenge is making sure we have good performance,said Robert Benmosche(pronounced "Benmoshay"),CEO of American International Group.Treasury's goal is to get as much as it can from the next initial public offering of AIG stock.My focus now is tomorrow.You can't make yesterday better.
How do you make the most money from selling the smallest amount of profits?Among AIG's businesses are SunAmerica Financial Group,U.S. Life,aircraft leasing and Mortgage Guaranty.We're gonna continue to look overseas.
AIG has the most entrepreneurial culture.That capability is not easy for people to underprice.Our turnover is below normal levels;our retention of clients is above normal levels.We have a core of people in leadership positions-they're excited.
We have a succession plan in place.I would love to see this all the way through,to see the last share be sold.The government will probably sell over a year and a half.
Europe is gonna be a tough haul.My sense is,they're gonna work through these problems.I don't see this as a disaster.It's just gonna slow things down a little bit,observed Robert Benmosche,the veteran business leader with a shock of gray hair to prove it.
AIG has repaid four billion dollars to the Federal Reserve Bank of New York,a milestone on its way back to independence from the government following the bailout that rescued it from the financial crisis.Plans for the sale of Treasury's stake in the company are well underway,which will mark AIG's return to normal corporate life.
AIG is a leading property-casualty insurer and financial services provider in more than 130 countries and jurisdictions.Its stock is listed on exchanges in the U.S.,Ireland and Japan.AIG employees are still aggressive achievers and pleased to be part of the recovery plan.
American International Group(AIG)
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