MetLife Names Former AIG Finance Chief David Herzog to Board

(Bloomberg) -- MetLife Inc., the largest U.S. life insurer, elected David Herzog, the former chief financial officer of American International Group Inc., to its board of directors.

The addition brings the total number of directors to 13, with 12 being independent, the New York-based insurer said Friday in a statement. Herzog is also a director for Ambac Financial Group Inc. and has served on the boards of AerCap Holdings NV and International Lease Finance Corp.

MetLife Chairman and Chief Executive Officer Steve Kandarian has been seeking financial expertise to bolster his board as the company prepares for a spinoff of a U.S. retail business and deals with heightened regulations. The insurer’s board added  Edward “Ned” Kelly, former chairman of Citigroup Inc.’s institutional businesses, in 2015.

“A highly respected leader, David brings more than three decades of life insurance and financial service expertise to MetLife,” Kandarian said in the statement. “His financial acumen and deep knowledge of the business make him a valuable addition to the board.”

Herzog left AIG last year along with other executives as the insurer’s CEO, Peter Hancock, reshaped management. Herzog previously worked as chief operating officer and CFO for AIG’s domestic life insurance operations.

Bloomberg
Stay Updated With OnWeb News On BloombergQuint