A Wall Street Titan Teeters On The Brink
The financial collapse of 2008 inaugurated a whole new era of corporate crises. Banks, brokers and professional services struggled to regain public confidence as the specter of insolvency continued to loom. Meanwhile, the shattered market led to an unrelenting search for presumed villains.
As the global economy was buffeted in 2008 and 2009, AIG, a Wall Street behemoth with operations in 80 countries around the world was at the center of the storm. The recipient of almost $200 billion of US taxpayer dollars via TARP and other means, it was an institution under attack from all sides
Stationed at the helm of the company’s New York War Room, and with teams dispersed globally, LEVICK positioned the client as transparent with overseas regulators (who threatened to seize assets), visionary across a range of controversial issues (from executive compensation to asset sales to pricing structures) and open with employees. The LEVICK team also sat shoulder-to-shoulder with the CEO during a marathon 11-hour Congressional hearing.
As it eventually became apparent that the client’s CEO was one of the few individuals then taking a measured but resolute leadership position, the tide of perception turned. The public came to realize that such leadership was indeed the only path forward for global business.