Sid Sankaran has been named Senior Vice President, Chief Risk Officer, at American International Group (AIG, New York). Sankaran will report to AIG EVP, Finance, Risk, and Investments, Peter D. Hancock. He will succeed Robert Lewis, who last month announced that he would retire from AIG following a transition period. Sankaran's direct reports will include the chief risk officers of all AIG business units and the leadership of the Corporate Enterprise Risk Management functions.
"Sid Sankaran comes to AIG with the broad-ranging risk management experience that an enterprise of this scope must have," said Robert H. Benmosche, AIG President and CEO, in a press release. "We are on our way to fulfilling our commitment to repay the government; now is the time to concentrate on re-establishing AIG as a world-class insurance organization. Risk management is crucial to that task, and Sid is well qualified to take on this important leadership role."
Sankaran joins AIG from Oliver Wyman Financial Services, where he was a partner in the Finance and Risk practice and headed the firm's Toronto office. He had served since 2006 as Canadian Market Manager and recently was a member of the Oliver Wyman Financial Services Global Management Committee, working for the past five years with financial services executives on risk management issues. He also conducted strategy and risk-focused studies of financial services companies, including insurers, banks, securities firms, and specialty finance companies in North America and Europe.
Prior to that, Sankaran served at Mercer Risk, Finance & Insurance consulting and at MMC Enterprise Risk, focusing on insurance company valuation and mergers and acquisitions.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio