American International Group’s (AIG) Adam Burk (pictured) will soon have a full plate.
Already leading the corporate development and strategy team at the insurance heavyweight, Burk will now add further responsibilities. That’s because he’s been named global treasurer and head of corporate development for the insurer, effective immediately.
The position will see him lead AIG’s global treasury activities, incorporating rating agency relations, banking relations, liquidity management, cash management, and capital management.
He will report in to Sabra Purtill, who is EVP chief financial officer, and described Burk as an “accomplished” executive within the financial sphere.
“He has contributed to many important initiatives that helped to strengthen AIG’s balance sheet and enhance our financial flexibility as we repositioned AIG as a leading global property and casualty insurer,” she said. “I look forward to working closely with Adam in this expanded leadership role.”
Burk described himself as “pleased” to take on his additional responsibilities and in particular to work with teams across the entire organization on capital management goals and strategic initiatives.
He has held the role of head of corporate development, strategy and mergers and acquisitions since June 2021. He has also held several leadership roles within the firm – such as chief financial officer of global operations and a senior position in capital strategy.
He originally made the switch across to AIG back in 2013. His past tenures include roles with Morgan Stanley, Nomura and Citigroup. He also practiced law with Latham & Watkins and serves on the board for K2 Integerity and Corebridge Financial.
In other recent news, AIG hit the headlines with its decision to sell its global personal travel insurance business to Zurich.
What do you make of this latest role change at the top of AIG? Leave a comment below with your thoughts.
