As the 36th annual meeting of the International Business Leaders' Advisory Council for the Mayor of Shanghai approaches, US centenarian Maurice R. Greenberg, the council's first and sixth chairman, stands out for his remarkable contributions to the city's growth.

Founded in 1989, the IBLAC has evolved into an international think tank where top executives from multinational companies gather annually to share their insights. This year's meeting will be held on Sept 22.

In the late 1980s and early 1990s, as then chairman of the American International Group, Greenberg leveraged his global influence to promote the IBLAC and helped Shanghai establish a valuable charter for the council, with its core rules still in effect today.

As a prominent Wall Street leader, Greenberg has held many prestigious global positions. During his tenure as IBLAC chairman, he was fully committed to its mission, recalls Eric Zheng, Greenberg's former assistant and current president of the American Chamber of Commerce in Shanghai.

"His love for China goes beyond business interests," Zheng noted. "It's a deep, heartfelt commitment."

Bridging China and the world

Zheng believes Greenberg's love for China stems from a sense of responsibility for historical continuity.

In 1919, American Cornelius Vander Starr established the American Asiatic Underwriters, the predecessor of the AIG, in Shanghai. Greenberg succeeded Starr as the AIG’s leader in 1968, and in 1975, before China and the US had established formal diplomatic relations, he led the first American insurance delegation to China. In 1992, the AIG became the first foreign insurer licensed in China, and Greenberg famously ran an ad in US newspapers with the message "Hui Lao Jia" in three Chinese characters, which literally means "come back home".

"He brought advanced international management practices to China, paving the way for the country's insurance industry to integrate with global markets," said Zheng.

In the late 1990s, Greenberg actively lobbied Washington to expedite China's entry into the World Trade Organization. Reflecting on the period years later, he emphasized the importance of including China in the global trade system, remarking that it didn't make sense to exclude a country with over 1.3 billion people.

In addition to being the IBLAC's founding chairman, Greenberg holds the record for attending the most meetings—28 since 1990.

In 2009, he proposed switching the afternoon meeting to a "closed-door" format, allowing Shanghai's mayor, vice-mayors, and IBLAC members to engage in candid discussions, humorously referred to by business leaders as "a chance to whisper to the mayor".

During a visit to Greenberg's Manhattan office several years ago, Zheng noticed the China Reform Friendship Medal Greenberg received in 2018 prominently displayed.

"He deeply values this honor and remains committed to promoting dialogue and cooperation between China and the US," remarked Zheng.

Even in recent years, as tensions between the two countries have risen, Greenberg has been an advocate for non-governmental dialogue. The first such event was held in New York in November 2022, where business leaders, former officials, and scholars from both countries met to discuss ways to improve bilateral relations.

Greenberg's legacy of engagement with China continues through his sons. His younger son, Evan G. Greenberg, previously served as chairman of the National Committee on US-China Relations, while his elder son, Jeffrey W. Greenberg, will attend the IBLAC meeting for the first time this year as chairman of Starr Insurance.

Source: Jiefang Daily