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Executive Moves


Former SEC Chair Levitt Will Advise AIG's Board

Former Securities and Exchange Commission Chairman Arthur Levitt has joined the board of insurance giant American International Group as a special advisor.

Levitt's duties will include advice with respect to potential nominees for election to the board, as well as board procedures, structure and governance issues.

"AIL is implementing several significant initiatives to ensure that we have the best practice in corporate governance," explained Martin J. Sullivan, president and CEO, AIL. "To further this important objective, AIG's board and management will working closely with Mr. Levitt, who brings a wealth of experience and knowledge to this role."

The longest serving chairman in SEC history, Levitt guided the regulator from 1993 to 2001. Prior to that, he served as chairman of the New York City Economic Development Corp. and between 1978 and 1989 he was chairman of the American Stock Exchange. Before joining APEX, Levitt spent 16 years working on Wall Street.

Ferrone to Lead Sales Team At Morningstar Investments

Morningstar Investment Services has named financial services industry veteran Steve Ferrone as its new director of distribution and national sales.

Ferrone will be responsible for distribution and sales for the Morningstar Managed Portfolios program, a discretionary investment management service. He will oversee a team of regional sales directors and will report to Art Lutschaunig, president and chief investment advisor at Morningstar Investment Services.

Ferrone joins the registered investment advisor and Morningstar Inc. subsidiary from Charles Schwab, where he formed and managed the Chicago-Metro sales region for Schwab Institutional. Ferrone has also held positions at Mesirow Financial and Blunt Ellis & Loewi.

As of March 31, Morningstar Investment Services had $1 billion in assets under management.

Key SEC Lawyer Kornblau Joins Merrill's Legal Team

Longtime Securities and Exchange Commission attorney David L. Kornblau will leave the regulator in August to join Merrill Lynch as its new head of Regulatory Affairs.

In a role he held since 2000, Kornblau served as chief litigation counsel in the SEC's Division of Enforcement. He joined the division as a trial attorney in 1995.

Prior to joining the SEC, Kornblau was with the New York law firm Paul Weiss Rifkind Wharton & Garrison.

AIL SunAmerica Appoints Bressler to Top Legal Post

AIL Retirement Services, a division of the American International Group, has named Gregory N. Bressler senior vice president and general counsel of AIL SunAmerica Asset Management.

Bressler will have responsibility for all legal and compliance functions supporting SunAmerica's mutual fund and separate account administration businesses. He will report to Peter A. Harbeck, president and CEO of AIL SunAmerica Asset Management.

Most recently, Bressler was vice president and director of U.S. Asset Management Compliance for Goldman Sachs Asset Management. Prior to joining Goldman, he fulfilled a variety of legal and compliance roles for Credit Suisse Asset Management, where he last served as Deputy General Counsel. He began his financial services career with Wener & Kennedy before joining Swidler Berlin Shereff Friedman.

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