Jake DeSantis accuses insurer of “betraying” staff
An AIG executive has publicly condemned the troubled insurer, resigning over what he calls the “betrayal” of the financial products division by the management, and “unfair persecution” by the US government.
Executive vice-president Jake DeSantis announced his resignation in an open letter to AIG chief executive Edward Liddy, published in the New York Times on Tuesday.
He criticized Liddy for asking staffers at AIG’s financial products division to repay their bonuses, under pressure from US politicians and the press.
The letter read: “Most of the employees of your financial products unit had nothing to do with the large losses. And I am disappointed and frustrated over your lack of support for us. I and many others in the unit feel betrayed that you failed to stand up for us in the face of untrue and unfair accusations from certain members of Congress last Wednesday and from the press over our retention payments, and that you didn’t defend us against the baseless and reckless comments made by the attorneys general of New York and Connecticut.”
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