American Int’l Group Inc (AIG) announced Tuesday afternoon that one of its top executives will take over as CEO on Sept. 1, replacing Bob Benmosche. The insurance giant named Peter Hancock, AIG’s executive VP and head of AIG Property Casualty, as his successor. Benmosche, who took over in August of 2009 and helped the insurer […]View the full post at: AIG Is Getting A New CEO
The head of US mortgage finance giant Freddie Mac will resign next year, the government said Wednesday in announcing changes at the top of the government-seized firm.Charles Haldeman, chief executive of Freddie Mac, "recently informed the board of his desire to step down some time in the coming year," the Federal Housing Finance Agency (FHFA) said in a statement.Haldeman has assured the board that he will remain as CEO until the transition has taken place, said the FHFA, which oversees Freddie and sibling Fannie Mae, bailed out in 2009 taxpayer-funded rescues.
Last night Fairholme Capital Management announced that it had a proposal for buying Fannie Mae and Freddie Mac's entire mortgage-backed security business, bringing in $52 billion in new private capital. This morning, the fund's CEO, Bruce Berkowtiz, was on CNBC explaining its plan.