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Thomas A. Russo (born November 6, 1943) is an American attorney and former Wall Street executive. He was vice chairman and chief legal officer of Lehman Brothers and general counsel for American International Group (AIG), two of the companies that played a major role in the 2007–2008 financial crisis.
In August 2014, Fato became executive vice president and general counsel of McGraw Hill Financial, whose brands included Standard & Poor's (S&P). [ 15 ] [ 6 ] At the time, S&P was dealing with several high-profile government lawsuits concerning its ratings of mortgage-backed securities prior to the financial crisis of 2007–2008 . [ 16 ]
The lobby of AIG's headquarters in the American International Building.. The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) insurance corporation was going to pay approximately $218 million (~$301 million in 2023) [1] in bonus payments to employees of its financial services division.
Sullivan's severance package payments were withheld by AIG after the then Attorney General of New York, Andrew Cuomo, raised issues. [7] According to USA Today, "AIG CEO Martin Sullivan received $25.4 million in non severance related compensation between 2005 and 2007, including $322,000 for private use of corporate aircraft, $153,000 for car and parking, $160,000 for home security and $41,000 ...
AIG's corporate headquarters are in New York City and the company also has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000. [11] AIG was ranked 60th on the 2018 Fortune 500 list. [12] According to the 2016 Forbes Global 2000 list, AIG is the 87th largest public company in the world. [13]
AIG's AIU Insurance unit has run a P&C insurance in the country since 1946, and is now the largest foreign nonlife insurer with 14,000 agents nationwide. [3] In retail auto and L&H space, AIG owns American Home and Fuji Fire and Marine Insurance company. [4] Since Jan 2018 AIU and FFM business units merged in AIG Sonpo.
This was seen as a reference to the $165 million in bonuses paid out in March 2009 to employees of AIG's "financial products" division, which sold the credit derivatives that put AIG deeply in debt after the Lehman Brothers collapse and compelled the Federal Reserve to bail out AIG with an $85 billion loan six months earlier, that eventually ...
According to published data from the New York Times, the annual base salary for partner-track first year associate attorneys at top law firms in major U.S. legal markets such as New York, California, Massachusetts, the District of Columbia, and Texas can range from $160,000 to $190,000 per year—with salary varying depending on the size and reputation of the firm.