Friday, February 4, 2011

The Revolving Door (Federal Reserve Edition)

American International Group Inc.has  hired Federal Reserve Bank of New York veteran Brian Peters to help manage risk.

Peters is joining as a senior managing director in the enterprise risk management group, according to a Jan. 18 memo to staff from Sid Sankaran, chief risk officer, reports Bloomberg.

The Fed bailed out AIG to the tune of billions in 2008. Thanks to Bernanke money printing, they repaid the last $21 billion it owed the Fed on Jan. 14.

Peters was senior vice president in risk management at the New York Fed, where he helped oversee the 12 “largest and most systemically important financial institutions and industry utilities,” according to the memo.

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