Just received an invitation for a talk to tomorrow at the Harvard Club by Hank Greenberg, who ran AIG until 2005, putting in place many of the practices which led to the firm’s implosion. He’s spent most of the past four years fending off lawsuits, some of which were dismissed, others he settled, including a $15 million settlement with the SEC in August for overseeing fraudulent transactions at AIG. Of course none of this is in the blurb for Greenberg’s talk which blandly reads:
Maurice R. Greenberg is Chairman and C.E.O. of C.V. Starr Company. He retired as Chairman and C.E.O. of American International Group, Inc. (AIG) in March 2005 after serving as the Chariman and Cheif Executive Officer. Under his leadership, AIG became the largest insurance campany in the world and generated unprecedented value for shareholders. During the nearly 40 years of his leadership, AIG’s market value grew from $300 million to $810 billion.
Mr. Greenberg has a long history of international involvement- particularly in China. He is the former Chairman of the Asia Society, a member of the National Committee on United States-China Relations, and the Director of the Council of Foreign Relations. He also served on the Board of Directors of the New York Stock Exchange.
His philanthropic activities include serving as Chariman Emeritus of the New York-Presbyterian Hospital, being a member of the board of overseers of the Weill Medical School of Cornell University, and acting as an honorary trustee of the Museum of Modern Art and a trustee of the American Museum of Natural History.
This program will focus upon Mr. Greenberg’s discussion of the world financial system in general and the AIG collapse in particular. He will generate ideas about the future of the financial system.