Howard Sosin

Howard Sosin was born in Illinois, and for a time was an associate professor at the Columbia [Business School]. He spent his early career at Bell Labs and subsequently moved to Drexel [Burnham Lambert]. In 1987, claiming to have "a better model for valuing interest rate swaps," he and two colleagues left Drexel to found AIG [Financial Products|American International Group Financial Products], where they took advantage of a triple-A balance sheet to pioneer the creation of many long-dated over-the-counter derivative products. Sosin left AIG in 1993 after a falling out with Chairman Maurice "Hank" Greenberg.