HOUSTON--(BUSINESS WIRE)--AIG VALIC, a national leading provider of retirement plan services to for-profit and not-for-profit education, healthcare and government organizations, today announced that Greg Garvin has been named Executive Vice President of Independent Distribution. In this position, Garvin will manage a newly formed division focused exclusively on AIG VALIC’s expansion into the independent distribution channel. He will report to Bruce R. Abrams, President and CEO of VALIC and the VALIC Retirement Services Company.

In commenting on this announcement, Bruce R. Abrams, said, “We are pleased to have Greg lead our initiative into independent distribution. His in-depth industry knowledge combined with an impressive record of success in developing alternative distribution strategies will serve as key contributors to our future growth. We are confident that this effort will complement our existing national sales organization of more than 1,800 VALIC financial advisors.”

Added Abrams, “AIG VALIC represents an attractive alternative to independent financial advisors looking to affiliate with a company committed to building their practice. We demonstrate this commitment through the delivery of competitive products, superior service, innovative sales tools, and comprehensive training resources. AIG VALIC’s competitive position is further strengthened as it responds decisively to plan sponsors seeking solutions to meeting heightened regulatory changes governing 403(b) plans and to better serving the retirement savings needs of their plan participants.”

Garvin has nearly 25 years of experience in the financial services industry and has held a variety of senior management positions focused principally on the distribution of insurance and retirement-related products through third-party channels. Most recently, he served as President of Security Distributors, a unit of Security Benefit Life Insurance Company, where he was instrumental in building its sales organization and launching new products through regional brokerage and banking distribution.

Previously, he served as President of the Institutional Marketing Group, an Aegon Financial Services Group unit marketing insurance and annuity products to large banks. He also served as Vice President, Providian Capital Management where he was responsible for distribution strategy and product development for wirehouses, regional brokerage firms and independent general agents. Garvin began his financial services industry career as President and Founding Officer of Goldome Agency in 1983 before pursuing career opportunities in product marketing and distribution for banks, brokerage firms and independent financial advisors.

Garvin earned his B.A. in Accounting and Finance from Siena College in Loudonville, New York. He is a Certified Public Accountant (CPA) and holds FINRA Series 6, 7, 24 and 63 licenses.

For more than half a century, AIG VALIC has specialized in providing retirement programs and related investment, recordkeeping and administrative services to employers and employees of for-profit and not-for-profit elementary and secondary education institutions, hospitals and healthcare organizations, higher education institutions and governmental entities. AIG VALIC, serving 28,000 client groups and more than two million participants, is the marketing name for the group of companies comprising VALIC Financial Advisors, Inc.; VALIC Retirement Services Company; and The Variable Annuity Life Insurance Company (VALIC); each of which is a subsidiary of American International Group, Inc.

American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Paris, Switzerland and Tokyo.

----------------------------------------------------------------------------------------------

Source: AIG VALIC

Copyright © 2007 Business Wire. All rights reserved.

Presented by InsuranceHeadlines.com