AIG taps Marsh executive as new CEO's deputy: report

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July 5, 2017 12:44 PM EDT

American International Group Inc. (AIG) headquarters seen on the day of the company's 2017 annual shareholder meeting at 175 Water Street, New York, U.S., June 28, 2017. REUTERS/Suzanne Barlyn

(Reuters) - American International Group Inc is expected to hire the head of Marsh & McLennan Companies Inc brokerage business to work alongside the insurer's new chief executive, Brian Duperreault, the trade publication Insurance Insider reported on Monday.

Peter Zaffino, chief executive officer at Marsh LLC, will leave the company to become Duperreault's "effective deputy," the Insurance Insider reported, citing unnamed sources. Zaffino also heads the risk and insurance services unit of Marsh & McLennan.

Other details about Zaffino's upcoming role at AIG are unknown, the publication said.

An AIG spokeswoman and a Marsh & McLennan spokesman declined to comment.

AIG named Duperreault, 70, CEO in May, selecting a protégé of former CEO Hank Greenberg and an industry veteran known for his turnaround expertise.

Marsh President John Doyle will be promoted to the dual role of president and CEO of Marsh upon Zaffino's departure, the Insurance Insider reported.

(Reporting by Suzanne Barlyn; Editing by Jonathan Oatis)


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