American International Group has appointed Steven Bensinger, executive vice president and CFO, as the new vice chairman of financial services business.

In his new role, Mr Bensinger will be responsible for operations across American International Group’s (AIG) financial services businesses, which specialize in aircraft and equipment leasing, capital markets, consumer finance and insurance premium finance. He will also continue his active involvement in AIG’s corporate strategy and corporate development activities.

William Dooley, senior vice president of financial services, will continue to focus on AIG’s financial services businesses in his current position, reporting to Mr Bensinger. Mr Dooley will also continue as interim head of AIG financial products until a successor is named.

Mr Bensinger joined AIG as treasurer in October 2002. He was elected as an AIG senior vice president and named as the treasurer and comptroller in January 2005. He was named executive vice president and CFO in March 2005.

Martin Sullivan, president and CEO of AIG, said: Steve Bensinger has been very instrumental in the progress AIG has made over the past three years. His new position will increase senior management’s focus on important AIG businesses that are facing challenging market conditions.