Eliot Spitzer's investigation of the US broker trade has forced the retirement of AIG chief executive Maurice Greenberg, reports said today.
Escalating concerns at AIG's board level about the effects of the New York attorney general's probe into the industry would bring about the early retirement of AIG's chairman and chief executive, reports said.
At a board meeting on Sunday AIG's directors gathered to hammer out terms of Greenberg's retirement as chief executive. According to reports in one proposal, Greenberg would stay on as chairman, the paper said.
Co-chief operating officer and vice chairman Martin Sullivan is expected to take the helm, reports said.