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.