Daily News: October 22, 2014

Lightyear Names Ex-AIG CEO as Partner

Lightyear Capital recently appointed Martin Sullivan as an operating partner. Sullivan spent 37 years with AIG, most recently as president and CEO. After leaving AIG in 2008, Sullivan joined Willis Group Holdings in 2010 as deputy chairman, and chairman and CEO of Willis Global Solutions

Sullivan currently serves as non-executive chairman of Cooper Gay Swett & Crawford (CGSC), a global reinsurance, wholesale and specialty broker; and as a director of Paradigm Outcomes, a provider of complex and catastrophic medical management, two of Lightyear’s portfolio companies.

“Lightyear is a recognized leader in the financial services investing arena and over the last few years, I’ve developed the utmost respect for the investment team and the firm’s approach to and quality of investing and creating value,” said Sullivan. “I am attracted to the firm’s singular focus on financial services and I look forward to working together to build value across the portfolio.”

“We have known Martin for a number of years. He is a notable leader in the industry and has a keen command of the complexities of the financial services industry. His leadership will be an asset to our firm as we develop new investment opportunities,” said Donald B. Marron, chairman and founder of Lightyear.

“We are delighted to work with Martin in this newly created role,” said Mark Vassallo, managing partner of Lightyear Capital. “As an operating partner, Martin will work with us both on sourcing new investment opportunities as well as on helping to build sustainable value and growth strategies in selected portfolio companies.”