Room CG13, Middlesex University, The Burroughs, Hendon, NW4 4BT
In a series of three lectures, former AIG executive Edward Laxton gives an insider's account of the collapse of AIG - the financial services giant at the centre of the global financial crisis of 2008.
He sets the crisis and the company's collapse and government rescue in a broader context of recent economic history and of the fundamental contradictions at the heart of the finance sector that regulators continue to struggle with.
The lectures explain AIG's unusual structure and governance, its leadership and the key decisions and product innovations that led to the company being extraordinarily exposed to the US housing market downturn in 2007. He also argues that as long as the financial sector is " too complex to fail" , another crisis is inevitable.
Edward Laxton worked for the US insurance company American International Group (AIG) for more than 20 years, and has been its Senior Vice President & SME Segment Executive for Europe, Middle East & Africa (EMEA), between 2012 and 2015, after being the Regional Vice President of AIG SE Asia Limited, Hong Kong for more than 7 years.
Edward Laxton has an extensive experience of the insurance sector of global financial services and has been at the frontline of AIG during the 2008 Financial Crisis, which saw the company being bailed out by the U.S. government at a cost of $85 billion.
He will present a unique insider perspective of AIG and its business strategies during the 1998-2007 housing boom.