Benmosche abandon’s Liddy’s sell-off proposals
New AIG boss Robert Benmosche has changed AIG’s restructuring plan, deciding to hold on to an investment advisory unit within its retirement services group, Reuters reports.
"Benmosche is beginning his strategic review and this is one of his early decisions," AIG spokesman David Monfried said.
"The broker-dealer group is core to the retirement services business," said AIG's Monfried. "We intend to keep it and continue to build a world-class financial advisory business."
It includes three companies: Sagepoint Financial, Royal Alliance, and FSC Securities Corp. They are staffed by independent agents and brokers, said Monfried.