American International Group Inc. (AIG), the $81.3 billion New York?? 1/2 based insurance company, named a new CFO and executive vice president, Steven Bensinger. His appointment came as CFO Howard Smith took leave and CEO and President M.R. Greenberg stepped down amid regulators’ investigations of an AIG transaction with another insurance company. Smith, 60, has been AIG’s CFO since 1996. Bensinger, 50, joined AIG in 2002 as treasurer and added the titles of comptroller and senior vice president in January. He continues to serve as treasurer and comptroller. Earlier, Bensinger was CFO of Combined Specialty Group Inc., Aon Corp.’s insurance underwriting unit, and executive vice president of Trenwick Group Ltd. He also worked at Chartwell Re Corp. and Skandia America Reinsurance Corp. after starting his career with Coopers & Lybrand.
The Bank of America, the financial institution based in Charlotte, N.C. with $65.4 billion of 2004 revenues and $1.1 trillion of assets, named J. Chandler Martin treasurer, in an appointment that emphasizes treasury’s role in risk management. Martin, 54, most recently was Bank of America’s enterprise, market and operational risk executive, and in that position provided treasury with risk management support. Earlier, he was the risk management executive for global corporate and investment banking. Martin also led the creation of the bank’s capital risk management function in 1993, after joining the bank in 1981. He succeeds Joseph Dewhirst, who resigned. Dewhirst had been B of A’s treasurer since last April, when it acquired FleetBoston Financial, where Dewhirst was treasurer.
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