American International Group Chief Investment Officer Win Neuger will step down from his post and focus on a more concentrated role at the company, according to FinancialWeek.
Neuger has been the insurer’s chief investment officer for years and will instead, continue to oversee AIG’s business of managing assets for external clients such as pension funds, and will also keep his titles as CEO and chairman of AIG Investments.
AIG was once the world’s largest insurer by market value and avoided bankruptcy in September last year with an $85 billion federal bailout, which later grew to approximately $152 billion. The company has started selling assets to raise funds to repay part of the government bailout.