Posted on 10/27/2009 9:09:59 AM PDT by TigerLikesRooster
Ex-A.I.G. Chief Is Back, Luring Talent From Rescued Firm
By MARY WILLIAMS WALSH
Maurice R. Greenberg, who built the American International Group into an insurance behemoth with an impenetrable maze of on- and offshore companies, is at it again.
Even as he has been lambasting the government for its handling of A.I.G. after its near collapse, Mr. Greenberg has been quietly building up a family of insurance companies that could compete with A.I.G. To fill the ranks of his venture, C.V. Starr & Company, he has been hiring some people he once employed.
Now, Mr. Greenberg may have received some unintended assistance from the United States Treasury. Just last week, the Treasury severely limited pay at A.I.G. and other companies that were bailed out by taxpayers. That may hasten the exodus of A.I.G.’s talent, sending more refugees into Mr. Greenberg’s arms, since C. V. Starr is free to pay whatever it wants.
“Basically, he’s just starting ‘A.I.G. Two’ and raiding people out of ‘A.I.G. One,’ ” said Douglas A. Love, an insurance executive who has also hired A.I.G. talent for his company, Investors Guaranty Fund of Pembroke, Bermuda.
(Excerpt) Read more at nytimes.com ...
Ping!
Take him swimming.
With the Pay CZAR wrecking havoc on Wall Street, he should do very well recruiting.
Amen. And I’m glad Chuck D’Angelo went with Hank — great guy, sharp as a tack.
Good for Greenberg.... screw the the Feds.
who is carrying the policy?
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