Lucy Fato Moves Up At AIG: What Her New Vice Chair Role Means

AIG just made a significant leadership shift—Lucy Fato, who's been pulling major strings as Executive Vice President and General Counsel, is getting promoted to Vice Chair starting October 1. The move signals how much confidence CEO Peter Zaffino has in her abilities.

Here's the interesting part: Fato's been with AIG since 2017 and has basically been involved in every major transformation the company has gone through. From navigating complex restructuring to handling government relations and communications, she's essentially been the connective tissue holding together AIG's multiple critical initiatives. Her new role puts her in an even more strategic position, sitting closer to Zaffino at the top of the organization.

To fill the gaps Fato's leaving behind, AIG brought in Rose Marie Glazer (currently Chief HR & Diversity Officer) to take on interim duties as General Counsel and Government Affairs lead, while Jennifer Silane (Chief of Staff) steps in as interim Head of Global Communications. Both are temporary arrangements until permanent replacements are locked in.

What Zaffino said about her is telling: he highlighted how crucial she's been in steering AIG through its "complicated transformational work" and praised her work ethic. In corporate speak, that usually means she's been handling some seriously heavy lifting behind the scenes—the kind of strategic and operational work that doesn't always make headlines but keeps organizations from falling apart during major transitions.

The promotion shows how companies like AIG value continuity and institutional knowledge when reshuffling leadership. Instead of bringing in external talent, they're elevating someone who already understands the company's complexity and stakeholder landscape.