(AIG headquarters at 175 Water Street in Lower Manhattan. Source: AIG.)
American International Group (AIG, New York) has named Philip Fasano to the newly created role of executive vice president and chief information officer. Fasano will join AIG in October and report to president and CEO Peter D. Hancock.
Fasano was most recently EVP, CIO of Kaiser Permanente. An AIG statement describes him as a proven leader who has served as CIO of several high-profile financial services firms during a 30-year career.
“I am delighted to welcome Phil to AIG,” comments CEO Hancock. “Phil is a leader in the field of information technology and has an extensive track record of improving systems and data management while creating innovative solutions to complex issues at global companies. I am confident Phil’s leadership and knowledge will help us achieve our vision of providing a truly seamless technology experience to our customers, distribution partners, and employees.”
Fasano will be responsible for oversight of AIG’s global information technology, including reviewing and updating systems and platforms, as well as data management and security.
An internal memo issued by Hancock this morning states of AIG’s technology mission, in relation to Fasano’s appointment:
As I have said previously, we have a lot of work to do in this area. Effective, modern technology and information systems are, more than ever, the foundation of any successful company. Not only do the quality and application of technology affect every aspect of our company, they are essential to achieving our strategic objectives. Phil already has been studying the key findings from the Operations, Claims, and Systems (OCS) review, and we have discussed his views at length. He shares my enthusiasm for leveraging our incredible IT team to better align our technology resources to be more effective, flexible, and capable in service to our customers and distribution partners.
Hancock added that Fasano’s top priorities will be:
- Employing technology as a competitive advantage – especially to encourage collaboration, working across boundaries, capturing the wealth of knowledge and experience across AIG, and ultimately better assessing risks for ourselves and our customers.
- Balancing cost efficiency and standardization efforts with an IT organization that focuses on enabling business and revenue growth.
- Creating an integrated, more modern technology infrastructure and better user experience, which are crucial to increasing efficiency and saving money.
Hancock also explained that AIG had chosen Fasano because, “while at Kaiser Permanente, he drove the substantial turnaround of their broad technology capabilities, including implementing KP Health Connect, the world’s largest civilian medical record system.” Hancock further noted that Fasano conceived and executed Kaiser’s digital health strategy, including the launch of consumer-focused mobile applications as well as mobile platforms in use by the integrated healthcare company’s clinical staff.
Prior to working for Kaiser Permanente, Fasano founded Capital Sourcing Group in 2005, a company focused on providing strategic advice, and consulting services to the Fortune 500 and the Department of Homeland Security. In addition, Fasano has served in IT leadership roles at Capital One Financial, JP Morgan Chase, Deutsche Financial Services, Bankers Trust, among other companies.
Mr. Fasano earned an MBA from Long Island University in New York, and a Bachelor of Science from the New York Institute of Technology. He is the author of “Transforming Health Care: The Financial Impact of Technology, Electronic Tools and Data Mining.”