Thomas R. "Tom" Savage is an American

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 insurance

Insurance

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

 executive who was chief executive officer of American International Group

American International Group

American International Group, Inc. or AIG is an American multinational insurance corporation. Its corporate headquarters is located in the American International Building in New York City. The British headquarters office is on Fenchurch Street in London, continental Europe operations are based in...

 Financial Products (AIGFP) from 1994 until his retirement in 2001. AIGFP is considered a key company in the Global financial crisis of 2008–2009.

Life and career

Savage earned his undergraduate degree from Trinity College

Trinity College (Connecticut)

Trinity College is a private, liberal arts college in Hartford, Connecticut. Founded in 1823, it is the second-oldest college in the state of Connecticut after Yale University. The college enrolls 2,300 students and has been coeducational since 1969. Trinity offers 38 majors and 26 minors, and has...

 in 1972. He received his Ph.D. in mathematics from Claremont Graduate University

Claremont Graduate University

Claremont Graduate University is a private, all-graduate research university located in Claremont, California, a city east of downtown Los Angeles...

 in 1977. Prior to AIGFP, Savage was vice president of Drexel Burnham Lambert

Drexel Burnham Lambert

Drexel Burnham Lambert was a major Wall Street investment banking firm, which first rose to prominence and then was forced into bankruptcy in February 1990 by its involvement in illegal activities in the junk bond market, driven by Drexel employee Michael Milken. At its height, it was the...

, an investment bank, and an executive at First Boston Corporation.

Savage was succeeded by Joseph Cassano

Joseph Cassano

Joseph J. "Joe" Cassano is an American insurance executive who was an officer at AIG Financial Products from the division's founding in 1987 until his resignation in February 2008. Cassano is considered a key figure in the Global financial crisis of 2008–2009...

. He serves on the Board of Trustees for Trinity College.