On this episode of the Insurance Coffee House Boardroom Series, Nick Hoadley is joined by David Herzog, former CFO of American International Group (AIG) and one of the most experienced finance and governance leaders in global insurance.

David served as CFO of AIG from 2008 to 2016, stepping into the role in the immediate aftermath of the Global Financial Crisis and helping lead the company through one of the most complex turnarounds in modern financial services.

In this conversation, David reflects on the years leading up to the CFO appointment, including rebuilding AIG’s financial infrastructure as Group Controller, and the intensity of navigating markets that rapidly moved from strained, to expensive, to effectively closed. He shares what it was like inside AIG as liquidity evaporated, why coordination with the Federal Reserve and U.S. Treasury was pivotal, and how the organisation focused on stabilising the business, stopping the “bleeding,” and ultimately repaying government support.

The discussion also explores David’s transition from executive leadership into board governance. He talks through early lessons from his first directorship, how he approaches chairing audit and oversight roles, and what aspiring directors should understand about the line between being an overseer and a doer. David also shares why the opportunity to chair Aegon appealed to him, and what he looks for in organisations on a journey of strategic change.

Connect with David Herzog on LinkedIn.

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