American Financial Group, Inc. announced that John B. Berding has been elected as President, effective immediately. Mr. Berding will continue to serve as President of American Money Management Corporation, its insurance subsidiaries and certain third-party investment entities, in addition to his new role. Mr. Berding assumes this leadership role at AFG that was previously jointly held by Carl H. Lindner III and S. Craig Lindner, who continue to serve as AFG's Co-Chief Executive Officers.

With this new position, Mr. Berding will work with the Co-Chief Executive Officers on matters of strategic planning and capital management. Mr. Berding initially joined AFG as a co-op student at the University of Cincinnati, where he earned a Bachelor of Business Administration. In 1987, upon graduation from the University of Chicago with a Master of Business Administration, he began working full time as an investment professional at AMMC.

Since that time, he has held a number of executive positions with AMMC and other AFG subsidiaries, most recently serving as President of AMMC since 2011. In addition to his role as President, Mr. Berding has served as a member of AFG's Board of Directors since 2012.