Peter D. Hancock is the former president and

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...

(CEO) of

AIG American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. , AIG companies employed 49,600 people.https://www.aig.com/content/dam/aig/amer ...

. He resigned his position of president on March 9, 2017.

Biography

Hancock was born in London, but raised in Hong Kong. He returned to the UK to attend

Oxford University Oxford () is a city in England. It is the county town and only city of Oxfordshire. In 2020, its population was estimated at 151,584. It is north-west of London, south-east of Birmingham and north-east of Bristol. The city is home to th ...

, where he received a B.A. in Politics, Philosophy, and Economics.

Career

Hancock has spent his entire career in financial services, including 20 years at J.P. Morgan, where he founded the Global

Derivative In mathematics, the derivative of a function of a real variable measures the sensitivity to change of the function value (output value) with respect to a change in its argument (input value). Derivatives are a fundamental tool of calculus. ...

s Group in 1991. He left J.P. Morgan in 2000 after serving as both chief financial officer and chief risk officer when the company merged with

Chase Manhattan Bank JPMorgan Chase Bank, N.A., doing business as Chase Bank or often as Chase, is an American national bank headquartered in New York City, that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and fi ...

. He then started a financial advisory firm named Trinsum with other J.P. Morgan alumni, before being recruited by

KeyCorp KeyBank, the primary subsidiary of KeyCorp, is a regional bank headquartered in Cleveland, Ohio, and is the only major bank based in Cleveland. KeyBank is one of the largest banks in the United States. Key's customer base spans retail, small ...

during the financial crisis in 2008, where he became vice-chairman. In 2010, at the recommendation of officials at

PricewaterhouseCoopers PricewaterhouseCoopers is an international professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world and is considered one of the Big Four accounti ...

and the Federal Reserve Bank of New York, Hancock was hired on as executive vice-president of Finance, Risk and Investments at AIG by the then-CEO, Bob Benmosche. Hancock served as chief executive officer of AIG from September 1, 2014 to March 9, 2017. AIG paid $67.3 million to its chief executive officers in 2017, with part of the payment going to Hancock who resigned under pressure from activist investors as his turnaround plan suffered setbacks. In March 2021, Hancock joined the board of directors of Ledger Investing.

Honors

Hancock is a member of the Board of the Japan Society, as well as a member of the International Advisory Board of British American Business. He is also a William Pitt Fellow of Pembroke College, Cambridge.

References

Living people Year of birth missing (living people) British chief executives British corporate directors American International Group people Alumni of the University of Oxford Chief executives in the finance industry Chief financial officers {{Business-bio-stub