From Member of the Bar to Piano Bar: AIG’s Russo Weighs Next Gig

By Sonali Basak, Bloomberg News

Tom Russo, who helped American International Group Inc. negotiate the end of its U.S. bailout, is retiring from his post as general counsel and considering opening a piano bar, among other endeavors.

Russo, 72, will stay with the insurer until a replacement is found, Chief Executive Officer Peter Hancock said Tuesday in a message to employees. The general counsel has been with the New York-based insurer since 2010, saying at the time that he joined “for the challenge.”

Russo and a group of friends are prepared to spend about $1 million each to start the venture in midtown Manhattan, he said Tuesday in a ...