Douglas A Dachille, Chief Executive Officer of First Principles Capital Management (First Principles), is to become Executive Vice President and Chief Investment Officer of AIG, succeeding William N Dooley, Executive Vice President, Investments, who is retiring.
Additionally, AIG is acquiring First Principles, a privately held investment management firm. The transaction is expected to close in the third quarter of 2015.
Dachille will report to Peter D Hancock (pictured), President and Chief Executive Officer of AIG, and will join AIG’s Operating Committee. Prior to leading First Principles for 11 years, Dachille was President of Zurich Capital Markets. He began his career at JPMorgan Chase & Co, where he held a variety of positions, including Global Head of Proprietary Trading and co-Treasurer, and built the Hybrid Derivatives business.
“We are excited to bring Doug and his talented team on board,” Hancock says. “Doug is a leader in financial services and investments, and has an extensive track record in all aspects of asset management, structured finance, and risk management at global companies. The First Principles investment team is a uniquely talented group, and their customised asset management services align with AIG’s commitment to providing the highest level of solutions-oriented services to clients.
“I also want to extend my deepest appreciation for all of the accomplishments made by Bill Dooley. Bill joined AIG in 1978 and served in many key financial management and investment roles in his distinguished career with the firm. His guidance and leadership will be missed, but I know he will work closely with Doug as he transitions into his role as our Chief Investment Officer.”