American International Group has named Lucy Fato as general counsel to replace Peter Solmssen, who is leaving the post to return to retirement.
Fato will join AIG also as executive vice president effective 16 October, the company announced. Reporting to AIG President and CEO Brian Duperreault, Fato will oversee the global legal, compliance, regulatory and, government affairs function. She will also be part of the company’s executive leadership team and contribute to strategic and policy decisions on AIG’s operations.
Fato currently serves as managing director, head of the Americas, and general counsel at Nardello & Co. She will continue to serve the firm in an advisory capacity.
Earlier in her career, Fato was executive vice president and general counsel of McGraw Hill Financial, now known as S&P Global, and was vice president, deputy general counsel, and corporate secretary at Marsh & McLennan. Before these posts, she spent 14 years at Davis Polk & Wardwell, including five as partner in the capital markets group.
“I had the privilege of working with Lucy at MMC and know firsthand that she is an incredibly accomplished executive and strategic partner,” Duperreault said. “Her experience of more than 25 years working across a variety of complex legal, compliance, regulatory, and corporate governance matters will be a strong addition to our leadership team as we grow AIG and build long-term shareholder value.”
“I am honored to be joining Brian and the executive leadership team at one of the world’s iconic companies,” said Fato. “Having worked with Brian throughout his tenure at MMC, I have tremendous admiration and respect for all that he has accomplished over his career. I look forward to working with him again at this pivotal time in AIG’s history and collaborating with the many talented colleagues across the organization.”
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