Tags: AIG | Goldman | Adviser

AIG Fires Goldman as Main Corporate Adviser: Report

Friday, 07 May 2010 11:11 AM

American International Group has replaced Goldman Sachs as its main corporate adviser with Citigroup and Bank of America Corp., the New York Times reported, citing three people with knowledge of the matter.

AIG met with its two new advisers on Thursday, the Times reported.

AIG, Goldman, Bank of America and Citigroup could not immediately be reached for comment by Reuters, outside regular U.S. business hours.

The Times reported that the bailed-out insurer had retained Goldman to help reorganize its businesses, and advise on how it could sell off parts of its business to help return government bailout money while still preserving units to be part of a surviving company.

While AIG is the first company known to have canceled major work with Goldman, European officials and some local officials in the United States have also said they are reconsidering their relationships with the company, according to the report.

Goldman has come under pressure since it was charged last month with fraud by the U.S. Securities and Exchange Commission over its marketing of a subprime mortgage product.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Headline
American International Group has replaced Goldman Sachs as its main corporate adviser with Citigroup and Bank of America Corp., the New York Times reported, citing three people with knowledge of the matter. AIG met with its two new advisers on Thursday, the Times...
AIG,Goldman,Adviser
176
2010-11-07
Friday, 07 May 2010 11:11 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved