Peter Hancock (businessman)
From Wikipedia, the free encyclopedia
Peter D. Hancock is the former president and chief executive officer (CEO) of AIG.[1] He resigned his position of president on 9 March 2017.
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Biography
Hancock was born in London, but raised in Hong Kong.[2] He returned to the UK to attend Oxford University, where he received a B.A. in Politics, Philosophy, and Economics.[1][2]
Career
Hancock has spent his entire career in financial services, including 20 years at J.P. Morgan, where he founded the Global Derivatives Group in 1991.[2] 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. He then started a financial advisory firm named Trinsum with other J.P. Morgan alumni, before being recruited by KeyCorp during the 2008 financial crisis, where he became vice-chairman.[3][4]
In 2010, at the recommendation of officials at PricewaterhouseCoopers 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.[3][5]
Hancock served as chief executive officer of AIG from 1 September 2014 to 9 March 2017.[6][non-primary source needed] 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.[7]
In March 2021, Hancock joined the board of directors of Ledger Investing.[8]
Honors
Hancock is a member of the Board of the Japan Society,[9] as well as a member of the International Advisory Board of British American Business.[10] He is also a William Pitt Fellow of Pembroke College, Cambridge.[1]
