American International Group (NYSE:AIG), one of the biggest insurance corporations in the world, just named Peter Hancock as its new CEO. He'll start working on his new role on Sept. 1, replacing Robert Benmosche. What does this mean for the company going forward -- and for Jay Wintrob, head of AIG's life insurance and retirement business and reportedly the other top candidate for the job?

In the following video, Motley Fool financial analysts David Hanson and Matt Koppenheffer discuss this headline from the banking sector.