Fitzsimons, who served as AIG’s CFO, took a medical leave in January, prompting then Global Chief Actuary Mark Lyons to step in as the interim CFO during Fitzsimons’ absence.
However, according to reports, Lyons faced termination a few weeks later due to violations related to confidentiality and non-disclosure obligations.
Following these developments, Sabra Purtill assumed the interim role and later officially succeeded Fitzsimons as the finance chief when he chose not to return from his medical leave.
The passing of Fitzsimons marks a somber moment for AIG and the insurance industry, highlighting the impact of his contributions during his tenure as CFO.
Shane Fitzsimons took on the role of Global Head of Shared Services at American International Group (AIG) on July 1, 2019, bringing with him a wealth of experience and expertise. Prior to joining AIG, he served as the Group Synergy Officer at TATA Group, a role that showcased his commitment to driving synergy within large conglomerates.
With a remarkable career spanning two decades at GE, Shane held pivotal roles across the United States, Asia, and Europe. His tenure included serving as the Global Head of Shared Services, Chief Financial Officer for all international operations, and Head of Financial Planning and Analysis. His unwavering dedication and strategic vision played a key role in shaping the operational and financial landscape of the organizations he served.
In his newly created role at AIG, which saw him reporting to Peter Zaffino, AIG’s Global Chief Operating Officer and Chief Executive Officer of General Insurance, Fitzsimons aimed to develop a global strategy within AIG’s Shared Services, with a focus on creating a cost-effective and scalable infrastructure that leverages technology and innovation. His leadership was seen as instrumental in modernising AIG Shared Services and contributing to the company’s journey towards becoming a leading global insurance entity.
Peter Zaffino posted a personal tribute, saying: “It is with great sadness that I share the passing of Shane Fitzsimons, a dear friend, a cherished AIG colleague, and a highly respected member of the global business community.
“Shane leaves behind a legacy of extraordinary leadership, resolute commitment, and a passion for striving towards excellence in everything that he did. He was an exceptional mentor and guide to those around him and had a positive impact on the lives and careers of so many who had the privilege of learning from and working with him.
“Shane loved being the Chief Financial Officer of AIG and he was a key driver in helping with the successful IPO of Corebridge Financial in a very challenging market. Along the way, he became a great ally and was a trusted advisor and thought partner.”
In an online post announcing the news, AIG said: “We extend our deepest sympathies to Shane’s family and friends.”
