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Article: Greenberg As Outsider; Globe-Striding Former AIG Chief Sets Out to Rebuild an Empire
- Article from:
- The Washington Post
- Article date:
- May 4, 2006
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Banished from the headquarters of the international insurance
conglomerate he spent nearly 40 years assembling, Maurice R. "Hank"
Greenberg is starting over at age 81.
This time, the ousted chairman of American International Group
Inc. is building a privately held insurance firm, with an "emphasis
on private," he said in a recent interview, with a wry nod to the
regulatory troubles that led to his current position. Last spring,
AIG's board severed ties with its longtime leader over a 2000
reinsurance transaction -- initiated by Greenberg -- that
resulted in a Justice Department investigation and a civil fraud suit
by New York Attorney General Eliot L. Spitzer. The suit is still
pending, ...