[Update 1: Adds details on new CEO] Robert Gifford joins American International Group (AIG) as its president and CEO of AIG Global Real Estate. In his new role, he will oversee AIG’s real estate investment division, which has $24.3bn in assets it manages in 50 countries. He succeeds Jeffrey Hurd, senior vice president, head of asset management restructuring and AIG chief administrative officer, who was serving in the role on a interim basis. Prior to joining AIG, Gifford was a principal at Boston-based real estate investment management advisor AEW Capital Management, and served at the Rouse Company, a retail developer. He is an alumnus of Dartmouth College and Yale University. “Rob Gifford brings to AIG a deep and versatile background in real estate investment, development and portfolio management,” Paula Rosput Reynolds, AIG vice chairman and chief restructuring officer, said in a statement. “He also has an outstanding reputation for earning the confidence of investors, including during challenging real estate market conditions.” Also joining AIG Global Real Estate is William Glasgow, who will serve as chief restructuring officer. Prior to joining AIG, Glasgow served as chief operating officer at the real estate private equity firm Scanlan Kemper Bard Companies, a number of executive positions at PacifiCorp and its subsidiaries, and various leadership positions in venture capital management. He is an alumnus of the University of Pennsylvania and Harvard University. “Will Glasgow’s management and restructuring experience spans not only real estate, but also financial services and other industries,” Paula Rosput Reynolds, AIG vice chairman and chief restructuring officer, said in a statement. “His background is especially valuable as AIG seeks the best possible outcomes for its real estate assets.” Write to Austin Kilgore.

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