Maurice R. "Hank" Greenberg (born May 4, 1925 in New York City) is an American businessman and former chairman and CEO of American International Group (AIG), the world's largest insurance and financial services corporation. He is currently chairman and CEO of C.V. Starr, Inc., a diversified financial services firm with assets of $3.5 billion.

Education

Greenberg is a 1948 graduate of the University of Miami and a 1950 graduate of New York Law School.

AIG

In 1962, Greenberg was named by AIG's founder, Cornelius Vander Starr, as the head of AIG's failing North American holdings. In 1968, Starr picked Greenberg as his successor.

Greenberg is a billionaire whose worth is roughly $3.6 billion. He is the father of Jeffrey W. Greenberg, former chairman and CEO of Marsh & McLennan Companies (MMC), and of Evan G. Greenberg, president and CEO of ACE Limited. Together, the father and his sons controlled a major portion of the insurance industry.

Other public positions

Greenberg is a Director Emeritus and Honorary Vice Chairman of the Council on Foreign Relations and a member of the Trilateral Commission. In the 1980s, his extensive foreign connections prompted the Reagan administration to offer him a job as Deputy Director of the CIA, which he declined. He was a director of the Federal Reserve Bank of New York from 1988 until 1995, the last two years of which he served as Chairman.

Greenberg has been a major contributor to multiple institutions, including the New York-Presbyterian Hospital, where he was the longtime director of the Board of Trustees.

Fraud allegation

On March 15, 2005, AIG's board forced Greenberg to resign from his post as Chairman and CEO under the shadow of criticism from Eliot Spitzer, attorney general of New York State. On May 26, 2005, as part of a series of actions against leaders of large corporations, Spitzer filed a complaint against AIG, Maurice Greenberg, and Howard I. Smith (ex-CFO of AIG) alleging fraudulent business practice, securities fraud, common law fraud, and other violations of insurance and securities laws. After a subsequent investigation, however, all charges were dropped, and Greenberg was not held responsible for any crimes.

Greenberg's public statements show that he found the Spitzer investigation to be very troubling. He maintained his innocence throughout the investigation, and alluded to the possibility that Eliot Spitzer might be conducting a high-profile witch-hunt in the interests of furthering his political ambitions (such as a future run for Governor of New York).