MONEY MANAGEMENT

AIG taps president, group retirement

Robert Scheinerman was named president, group retirement, for American International Group, effective immediately, the company announced Monday.

The position is new, Linda Malamut, an AIG spokeswoman, wrote in an email. Mr. Scheinerman had been AIG’s president, individual retirement. He reports to Jana W. Greer, president and CEO of individual and group retirement.

Mr. Scheinerman will be in charge of VALIC, the institutional defined contribution business of AIG. VALIC has more than 23,000 DC plan clients serving more 1.9 million participants. VALIC had $66.5 billion in DC assets under management as of Sept. 30, Ms. Malamut wrote.