The removal of American International Group Inc (NYSE:AIG) CEO Peter Hancock is broadly negative for the company according to a flash research note on the topic from RBC Capital Markets. The insurance giant said today that Peter Hancock will step down as questions about his ability to steer the business through its continued restructuring remain. The CEO’s two-year turnaround plan appears to be faltering after AIG reported a unexpectedly large quarterly loss for the fourth quarter of last year, mainly due to a $5.6 billion reserve charge to cover possible future claims. Hancock had promised to return $25 billion to…
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