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American International Group (ÌìÃÀÍøÕ¾´«Ã½´«Ã½) has appointed Mark D. Lyons to the role of executive vice president and chief financial officer (CFO), succeeding Sid Sankaran, who will remain at ÌìÃÀÍøÕ¾´«Ã½´«Ã½ in an advisory capacity through the year-end reporting process for fiscal year 2018.

Lyons will serve on the ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Executive Leadership team and will report directly to Brian Duperreault, president and CEO of ÌìÃÀÍøÕ¾´«Ã½´«Ã½. Lyons will remain chief actuary, General Insurance, until a successor is named.

Lyons joined ÌìÃÀÍøÕ¾´«Ã½´«Ã½ in 2018 from Arch Capital Group, where he served as executive vice president, chief financial officer and treasurer since 2012. He joined Arch in 2002 and served in various capacities within Arch Insurance U.S. operations, eventually rising to chairman and CEO of Arch Worldwide Insurance Group. Prior to joining Arch, Lyons held various positions at Zurich U.S., Berkshire Hathaway and ÌìÃÀÍøÕ¾´«Ã½´«Ã½.

Sankaran was a partner in the finance and risk practice at Oliver Wyman, the management consulting arm of March & McLennan Cos., before coming to ÌìÃÀÍøÕ¾´«Ã½´«Ã½ in 2010. He served first as the company’s chief risk officer and then as chief financial officer.

CEO Duperreault thanked Sankaran for his “significant contributions over the years.”

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