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Dec. 11, 2008

PRETTO MOVES FROM CITI TO AIG
 

Christina Pretto, key spokesperson for Citigroup, is moving to American International Group next month, according to Nick Ashooh, senior VP-corporate communications at AIG.

Ashooh told O’Dwyer’s AIG is “looking forward to benefit from her long experience.”

Pretto, who assumes the VP corporate media post, joined Citi in '01. She takes the spot vacated by Chris Winans, whom AIG recruited from Lehman Brothers in '05.

A Citi staffer said Jon Diat has slid into Pretto’s spot.

Pretto had been handling media calls regarding Citi’s plans to cut 50K staffers from the payroll, and fending off reports that the board wants to bounce chairman Sir Win Bischoff, who replaced the ousted Chuck Prince last December.

AIG, which has received a U.S. bailout, went into crisis mode Dec. 10 following a Wall Street Journal piece claiming that it owes Wall Street $10B for speculative deals that went south.

The story “incorrectly” reported that AIG has a previously “undisclosed obligation to counterparties of about $10B,” said a statement from the insurer.

The amount does not represent a loss or debt, but the “notional value of the maximum potential cash settlement of the multi-sector portfolio.”

AIG says that “multi-sector credit default swap portfolio” is clearly spelled out on page 117 of its Form 10-Q for the period ended Sept. 30.

 
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