Pierce told AIG staff today that he has decided to leave the New Zealand company and return to the United States. The move comes as AIG's parent company, Hong Kong-based AIA, prepares itself for an IPO.
“My wife and I have decided that it is time to return to our family in the United States,” Pierce says.
He has been away from his native US on a series of contracts in Asia-Pacific over the past seven years. Mr Pierce says it is the right time for him to depart AIG Life, which is part of the AIA Group.
“We have exceeded profit projections in both the 2007 and 2008 financial years. Business continues to strengthen – we saw a 16% increase in sales in July this year compared to the same month last year.”
Along with these results, Pierce points to the introduction of the Lifestyle Check, and the introduction of a service excellence philosophy and the service differentiation offering for IFAs, as accomplishments he is proud of since taking the CEO role in September 2007.
Pierce expects an announcement regarding his replacement to be forthcoming from AIA’s Group Office in Hong Kong; meanwhile, a strong and experienced leadership team is managing the day-to-day business.
Pierce’s date of departure is 21 August.
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