NU Online News Service, May 3, 2004, 3:24 p.m. EDT – American International Group Inc., New York, has hired a world-renowned economist.[@@]

Jacob Frenkel will be a vice chairman of AIG and chairman of AIG’s global economic strategies group, AIG says.

Frenkel, who has a doctorate in economics from the University of Chicago, previously was chairman of Merrill Lynch International Inc., an arm of Merrill Lynch & Company Inc., New York. He also has been research director of the International Monetary Fund, chairman of the Inter-American Development Bank and governor of the Bank of Israel.