Peter Hancock (businessman)
Peter D. Hancock | |
|---|---|
| Born | London |
| Alma mater | University of Oxford (B.A. in Politics, Philosophy, and Economics) |
| Occupation | Financial services executive |
| Known for | Former president and CEO of AIG |
Peter D. Hancock previously held the roles of president and chief executive officer (CEO) at AIG. He stepped down from the presidency on 9 March 2017.
Biography
Born in London and raised in Hong Kong, Hancock later moved back to the United Kingdom to pursue higher education at Oxford University, where he obtained a B.A. degree in Politics, Philosophy, and Economics.
Career
Hancock's professional journey encompasses extensive experience in financial services, notably spending two decades at J.P. Morgan. In 1991, he established the Global Derivatives Group within the firm. After fulfilling responsibilities as chief financial officer and chief risk officer during J.P. Morgan’s merger with Chase Manhattan Bank, he departed in 2000. Subsequently, he co-founded Trinsum, a financial advisory company, before taking on the role of vice-chairman at KeyCorp during the 2008 financial crisis.
In 2010, following endorsements from executives at PricewaterhouseCoopers and the Federal Reserve Bank of New York, Hancock was appointed executive vice-president overseeing Finance, Risk, and Investments at AIG by then-CEO Bob Benmosche.
Hancock’s tenure as AIG’s CEO lasted from 1 September 2014 until his resignation on 9 March 2017. During 2017, AIG compensated its CEOs a total of $67.3 million, with Hancock stepping down amid pressure from activist shareholders due to challenges encountered in executing his turnaround plan.
In March 2021, Hancock became a member of the board of directors for Ledger Investing.
Honors
He holds positions on the Board of the Japan Society and the International Advisory Board of British American Business. Additionally, Hancock is recognized as a William Pitt Fellow at Pembroke College, Cambridge.