American International Group has elected Morris Offit as a director until the 2013 annual shareholders meeting, as well as chairman of the board’s finance and risk management committee.

Offit is currently chairman of Offit Capital, a wealth management advisory firm, and was co-chief executive of Offit Hall Capital Management from 2002 to 2007. He was also the founder and former CEO of OFFITBANK, a private bank, between 1990 and 2001.

Offit previously served as an AIG director from 2005 until his retirement from the board in 2012. However, following two other resignations, the board determined that it was in the best interests of AIG and its shareholders that he rejoin the AIG board until the 2013 shareholders meeting, due to his knowledge of the firm's business.

AIG operates in over 130 countries.