AIG Retirement Services today named
veteran brokerage executive Lawrence Roth as president of its New York
City-based Royal Alliance Associates.
Roth, who had previously served as CEO of both VESTAX Securities and the giant ING U.S. Retail Group, reports to Peter A. Harbeck, president and CEO of AIG Advisor Group.
"Larry Roth's broad-based experience and success in the financial services industry reflects our commitment to further strengthening the market leading position that Royal Alliance holds today," Harbeck said in a prepared statement.
Roth replaces Mark Goldberg, who had served as an executive at Royal Alliance since the 1980s. In 1995, Goldberg left Royal, moved to Israel and became a consultant to its parent, SunAmerica, and also spent time in the venture capital/private equity business. He rejoined SunAmerica in 2000 as a full-time consultant and was named CEO of Royal in 2001. AIG Retirement Services said only that Goldberg left "to pursue other interests" and thanked him for his longtime service to the company.
After leaving ING in 2001, Roth served as managing director of Berkshire Capital Securities, where he had responsibility for mergers and acquisitions of retail brokerage firms. While at ING in the years around the turn of the millennium, Roth was also very active in its aggressive acquisition strategy.