Claude E. Wade Joins AIG as Executive Vice President, Global Head of Operations and Chief Digital Officer

Rhea-AI Summary

American International Group (NYSE: AIG) has appointed Claude E. Wade as Executive Vice President and Chief Digital Officer, effective Q2 2021. Reporting to CEO Peter Zaffino, Wade aims to enhance client experience and operational excellence. With over 30 years of experience in operational strategy and innovation, Wade previously led client experience initiatives at BlackRock and has significant insurance industry expertise. This strategic hire aligns with AIG's commitment to investing in technology and talent to drive profitable growth and improve client retention.

Positive

• Appointment of Claude E. Wade as Executive VP and Chief Digital Officer expected to enhance client retention.
• Wade's extensive experience at BlackRock and in the insurance sector brings valuable expertise.
• AIG's ongoing investments in technology and talent to develop industry-leading capabilities.

Negative

• None.

American International Group, Inc. (NYSE: AIG) today announced that Claude E. Wade will join the company in the second quarter of 2021 in the newly created role, Executive Vice President, Global Head of Operations and Chief Digital Officer, AIG. Based in New York, Mr. Wade, 53, will report to President & Chief Executive Officer, Peter Zaffino.

Claude E. Wade (Photo: Business Wire)

“A key dimension of AIG’s ongoing transformation is centered on improving and simplifying our clients’ and distribution partners’ experience with the company, which will enhance client retention and drive client acquisition,” Mr. Zaffino said. “We are investing in technology and talent to develop industry-leading capabilities. Claude is a proven executive with operational, digital and insurance expertise, as well as a track record of delivering sustained profitability improvement.”

Mr. Wade, who has over thirty years of operational strategy and innovation experience, primarily with FORTUNE 100 companies, joins AIG from BlackRock where he most recently served as Global Head of Client Experience and Head of the Atlanta Innovation Hub. As Global Head of Client Experience, Mr. Wade was responsible for reshaping the global distribution ecosystem and improving the digital experience for BlackRock clients, revenue retention and efficiency improvements. As the Atlanta Innovation Hub Leader and Office Head, he had overall executive responsibility for creating BlackRock’s newest office and digital innovation center. In 2017, He also served as Chief Operating Officer for BlackRock’s Institutional Client Business where he oversaw day-to-day execution for BlackRock’s largest business with over $3 trillion in assets under management and $3 billion in annual revenue.

Mr. Wade has extensive insurance industry experience having spent approximately eight years with Marsh LLC and Guy Carpenter & Company, both operating subsidiaries of Marsh McLennan, in multiple execution leadership roles. He is a Lean Six Sigma Black Belt & Certified Agile Scrum Master. Mr. Wade received his Masters in Business Administration from New York University, Stern School of Business and his Bachelors of Administration in Finance from Pace University.

“I am thrilled to join AIG and to work with Peter Zaffino again as the company continues on its journey to achieve operational excellence and become a top performing company,” Mr. Wade said. “With the investments AIG is making in digital capabilities, combined with Peter’s vision for AIG’s future, I am confident we will drive profitable growth and innovative client and distribution partner solutions that are transformative in the insurance industry.”

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210329005669/en/

FAQ

What is the significance of Claude Wade's appointment at AIG?

Claude Wade's appointment as Executive VP and Chief Digital Officer is significant as it aims to enhance client experience and retention at AIG, aligning with the company's focus on operational excellence.

When will Claude Wade join AIG?

Claude Wade will join AIG in the second quarter of 2021.

What experience does Claude Wade bring to AIG?

Claude Wade brings over 30 years of experience in operational strategy, having worked with BlackRock and in multiple roles within the insurance industry, enhancing AIG's capabilities.

How will AIG benefit from Wade's expertise?

AIG is expected to benefit from Wade's expertise in improving client experiences and driving profitable growth through technological investments.