AIG's (AIG) Investment Chief to Step Down

The WSJ reported that executive, Win Neuger, who oversaw American International Group Inc.'s (NYSE: AIG) investment operation will step down from his post and focus on a narrower role.

Neuger will continue to oversee AIG's business of managing assets for external clients such as pension funds, which the firm is putting up for sale. The WSJ said Mr. Neuger will keep his titles as chief executive and chairman of AIG Investments.

"Mr. Neuger said in an email that he isn't taking a narrower role but that the sale of the asset-management business necessitates all investment personnel moving to one side of the business or the other. He said he was the founding CEO of that business and it would no longer be possible for one person to fill both roles once it is sold," told the WSJ.

AIG also has logged significant losses in the investment operations that Mr. Neuger oversaw.

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American International Group, Inc. (AIG) is a holding company which, through its subsidiaries, is engaged in a range of insurance and insurance-related activities in the United States and abroad.