AIG boss says he will stay despite threatening to go

AIG chief executive Robert Benmosche yesterday said he remained &ldquo;totally committed&rdquo; to staying at the company, countering an earlier suggestion that he was considering stepping down.<br /><br />In a letter to employees, Benmosche said he and the company&rsquo;s board were &ldquo;frustrated&rdquo; about restrictions on pay and were in discussions with the US government about them, but that he would stay nonetheless. <br /><br />AIG, which has received up to $180bn (&pound;109bn) of federal aid, including more than $80bn in loans, and is now 80 per cent-owned by US taxpayers, posted its second straight quarterly profit last week, helped by a recovery in the value of its investments. <br /><br />Benmosche said compensation restraints present a &ldquo;barrier that stands in the way of restoring AIG&rsquo;s value&rdquo;.<br /><br />Benmosche was so frustrated that he told the company&rsquo;s board last week he was considering stepping down.