American International Group (AIG) announced that Peter Y. SOLMSSEN joined AIG as Executive Vice President and General Counsel on October 18. He succeeds Thomas RUSSO (73), who retired.

In the new role, Peter Y. SOLMSSEN oversees the Global Legal, Compliance, Regulatory and Government Affairs functions, and reports to Peter D. HANCOCK, AIG President and Chief Executive Officer. He also serves as a member of AIG's Executive Leadership Team, and participates in all strategic and policy decisions affecting the company's operations.

Peter Y. SOLMSSEN (61) previously served as General Counsel and Head of Corporate, Legal and Compliance for SIEMENS AG, and served as a member of its Managing Board with responsibility for SIEMENS' businesses in the Americas.

"Peter brings a mission-driven perspective and sensibility to this role, which align perfectly with our focus on building and preserving trust, and delivering value for our customers and other key stakeholders," said Peter D. HANCOCK, AIG President and CEO. "He has exceptional corporate legal experience, and his insights on mitigating risk and managing legal and regulatory issues will be greatly valued as part of our leadership team.