Peter D. Hancock is the former president and

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

(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. As of 2023, AIG employed 25,200 people. The company operates through three core ...

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

Biography

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

Oxford University The University of Oxford is a collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, making it the oldest university in the English-speaking world and the second-oldest continuously operating u ...

, 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 JP may refer to: Arts and media * ''JP'' (album), 2001, by American singer Jesse Powell * ''Jp'' (magazine), an American Jeep magazine * '' Jönköpings-Posten'', a Swedish newspaper * Judas Priest, an English heavy metal band * ''Jurassic Pa ...

, where he founded the Global

Derivative In mathematics, the derivative is a fundamental tool that quantifies the sensitivity to change of a function's output with respect to its input. The derivative of a function of a single variable at a chosen input value, when it exists, is t ...

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, 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 financial services holding ...

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

KeyCorp KeyBank is an American regional bank headquartered in Cleveland, Ohio, and the 27th largest bank in the United States. Organized under the publicly traded KeyCorp, KeyBank was formed from the 1994 merger of the Cleveland-based Society Corpora ...

during the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

, where he became vice-chairman. In 2010, at the recommendation of officials at

PricewaterhouseCoopers PricewaterhouseCoopers, also known as PwC, is a multinational professional services network based in London, United Kingdom. It is the second-largest professional services network in the world and is one of the Big Four accounting firms, alon ...

and the

Federal Reserve Bank of New York The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the New York (state), State of New York, the 12 norther ...

, Hancock was hired on as executive vice-president of Finance, Risk and Investments at AIG by the then-CEO,

Bob Benmosche Robert Herman Benmosche ( , May 29, 1944 – February 27, 2015) was the president and chief executive officer of American International Group (NYSEAIG. He was appointed President & Chief Executive Officer by the US Department of Treasury and AIG ...

. Hancock served as chief executive officer of AIG from 1 September 2014 to 9 March 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 Pembroke College is a constituent college of the University of Cambridge, England. The college is the third-oldest college of the university and has over 700 students and fellows. It is one of the university's larger colleges, with buildings from ...

References

Living people Year of birth missing (living people) British chief executives of financial services companies British corporate directors American International Group people Alumni of the University of Oxford Chief financial officers {{UK-business-bio-stub