Adam Burk
About Adam Burk
Adam Burk (age 48) serves on the Corebridge Financial (CRBG) Board as an AIG-designated, non-independent director; he has been on the Board since 2021 (tenure: three years) . He is Global Treasurer and Head of Corporate Development, Strategy and M&A at AIG, with prior senior roles in capital strategy and planning, and earlier investment banking positions focused on financial institutions (insurance) at Morgan Stanley, Nomura, and Citigroup; he began his career as an associate at Latham & Watkins . Core credentials include corporate finance, insurance industry expertise, capital strategy and M&A execution .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AIG | Global Treasurer & Head of Corporate Development, Strategy & M&A | 2021–present | Leads capital strategy and M&A; perspective of controlling shareholder representative |
| AIG | General Insurance Corporate Development | 2018–2021 | Corporate development in insurance |
| AIG | CFO, Global Operations | 2016–2018 | Finance leadership |
| AIG | Senior roles in corporate development, capital strategy & planning | 2013–2021 | Transformational activities |
| Citigroup | Vice President, Financial Institutions Investment Banking | 2010–2013 | Insurance-focused banking |
| Nomura | Investment Banker (Financial Institutions; Insurance) | 2009–2010 | Insurance-focused banking |
| Morgan Stanley | Investment Banker (Financial Institutions; Insurance) | 2007–2009 | Insurance-focused banking |
| Latham & Watkins | Associate | 2003–2007 | Legal foundation |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Private Client Select | Director | Since 2023 | Current public/private role listed in 2025 proxy |
| K2 Integrity | Director | Since 2021 | Governance/risk advisory context |
| Hebrew Educational Society | Director (not-for-profit) | Since 2017 | Community/non-profit engagement |
2024 proxy listed Azur Group and H.E.S.; 2025 proxy updates to Private Client Select, K2 Integrity, H.E.S. .
Board Governance
- Independence: Non-independent director (AIG designee under the Separation Agreement) .
- Committee assignments: None (not a member or chair of standing committees) .
- Attendance: In 2024, the Board held four meetings; each director attended at least 75% of Board and committee meetings, and overall attendance was ~99% . In 2023, Board held four, Audit held nine, Special Purpose Committee held one; each director attended ≥75% .
- Executive sessions: Independent directors meet regularly without management; committees also meet in executive session .
- Controlled-company context and director designation: AIG (until its ownership falls below thresholds), Blackstone, and Nippon have rights to designate directors under their agreements; Burk currently serves as an AIG Director .
- Board composition and skills: Board targets broad skills in financial/audit, life insurance/retirement, investments, risk, technology, regulatory/compliance, consumer/distribution, human capital, governance/sustainability; majority independent .
Fixed Compensation
| Item (2024 Non-Employee Director Compensation) | Amount for Adam Burk ($) |
|---|---|
| Fees Earned or Paid in Cash | — |
| Stock Awards (DSUs) | — |
| All Other Compensation | — |
| Total | — |
- Policy highlights: Only independent directors receive compensation; board chair and certain committee chairs receive additional fees; no meeting fees beyond chair roles; no perquisites for non-employee directors; compensation mix emphasizes equity (DSUs); annual equity grants vest immediately but settle upon termination of board service; directors do not receive performance-based equity awards .
- Note: As an AIG-designated, non-independent director, Burk is not entitled to CRBG director compensation .
Performance Compensation
| Performance-linked element | Details |
|---|---|
| Performance-based equity awards (PSUs/TSR-linked) | None; CRBG directors do not receive performance-based equity |
| Cash bonus tied to metrics | None disclosed for directors |
| ESG/revenue/EBITDA metrics in director pay | Not applicable for directors |
Other Directorships & Interlocks
| Company/Entity | Type | Role | Potential Interlock/Conflict Context |
|---|---|---|---|
| AIG | Controlling shareholder | Senior executive; AIG-designated CRBG director | Structural conflict risk on related-party matters and governance independence |
| Private Client Select | Company | Director | Not identified as CRBG counterparty; monitor for future transactions |
| K2 Integrity | Company | Director | Governance/risk services; monitor for engagements with CRBG |
| Hebrew Educational Society | Non-profit | Director | No conflict indicated |
Expertise & Qualifications
- Financial services and insurance domain expertise; capital strategy, corporate finance and M&A execution .
- Senior treasury and corporate development leadership at AIG; investment banking experience across multiple bulge-bracket firms focused on FI/insurance .
Equity Ownership
| Security | As of Date | Shares Beneficially Owned | Percent of Class |
|---|---|---|---|
| CRBG Common Stock | March 17, 2025 | — | * (<1%) |
| CRBG Common Stock | May 13, 2025 | — | * (<1%) |
| CRBG Common Stock | 2024 proxy snapshot | — | * (<1%) |
| AIG Common Stock | 2024 proxy snapshot | 11,994 | * (<1%) |
- DSUs/RSUs/options: Ownership tables identify DSUs for several independent directors; no DSUs or CRBG equity listed for Burk .
- Pledging/hedging: CRBG policy prohibits hedging, pledging, and short sales of Corebridge securities; no pledging disclosed for Burk .
Governance Assessment
- Committee influence: Burk holds no committee roles, limiting direct influence over audit, compensation, risk, or nom/gov processes .
- Independence and potential conflicts: As an AIG-designated, non-independent director and current AIG senior executive, Burk poses structural conflict risk on transactions or policies implicating AIG/affiliates; CRBG’s controlled-company history and stockholder agreements heighten this consideration .
- Attendance and engagement: Company-wide director attendance is strong (≥75% individually; ~99% overall in 2024), supporting board effectiveness; specific individual attendance rates are not singled out but Burk met guidelines based on aggregate statements .
- Pay alignment: Burk receives no CRBG director compensation or equity, which eliminates pay-driven conflicts at CRBG but may reduce direct ownership alignment with CRBG shareholders; policy requires robust stock ownership guidelines for non-management directors, but non-independent designees are outside pay program scope .
- Red flags:
- AIG designation and current AIG executive role—heightened conflict risk on related-party decisions and strategic direction .
- Zero CRBG share ownership—no direct “skin-in-the-game” alignment, though hedging/pledging restrictions apply .
- Monitor any CRBG-AIG transactions and committee deliberations for independence safeguards (e.g., recusal, independent committee review) .
Overall signal: Strong attendance culture and robust governance policies (executive sessions, clawback, ownership guidelines) offset some controlled-company risks, but Burk’s AIG affiliation remains a notable independence and related-party consideration for investors .