Greenberg played high risk tactics to reach the top

0 Comments | AFP, May, 2005

NEW YORK (AFP) — Maurice "Hank" Greenberg took part in the D-Day invasion of Normandy, led foreign attempts to penetrate the Chinese business world and became a giant of the insurance world.

At the age of 80, when he should be enjoying the fruits of his reputation for negotiating hard deals for American Insurance Group (AIG), Greenberg is now one of the biggest US tycoons to feel the backlash against corporate tricksters.

As he contemplates fraud accusations made by combative New York attorney general Eliot Spitzer, Greenberg might well think back to comments made as his Citigroup counterpart Sandy Weill handed over the 'CEO of the Year' award.

Weill, who only days earlier announced he would step down early under mounting pressure over a stock research...