New president and CEO for AIG business
Robert Gifford has been named president and chief executive of AIG Global Real Estate.
Gifford’s experience includes 22 years with AEW Capital Management, L.P., the Boston-based real estate investment management advisor to leading institutional and private investors, where he was a principal holding leadership positions in acquisitions, capital markets, portfolio management and new product development. Prior to AEW, Gifford worked for The Rouse Company, a developer and owner of regional shopping centers, urban mixed use projects and planned communities.
“Rob Gifford brings to AIG a deep and versatile background in real estate investment, development and portfolio management,” said Paula Rosput Reynolds, AIG vice chairman and chief restructuring officer. “He also has an outstanding reputation for earning the confidence of investors, including during challenging real estate market conditions.”
Gifford succeeds Jeffrey Hurd, senior vice president, head of asset management restructuring and AIG chief administrative officer, who has been serving as interim president and chief executive officer of AIG Global Real Estate. Hurd will resume his previous responsibilities on a full-time basis.
AIG Global Real Estate invests in, develops, and manages $24.3bn of real estate in 50 countries for clients and other AIG companies. In conjunction with the overall restructuring of AIG, the company has previously announced its intention to divest certain holdings in its real estate business and reduce its global footprint.
