Centerview Partners hired by New York state department

The New York State Insurance Department has hired an investment banking advisory firm, Centerview Partners, to assist in selling off AIG subsidiaries.

New York is home to a significant number of AIG member companies. AIG's 71 insurers are domiciled in 19 states.

Edward Liddy, the newly appointed chief executive officer of AIG said he planned to complete within seven to 10 days a list of all the assets that would go up for sale. He did not say which subsidiaries were being considered. AIG must seek regulatory approval from the states where its subsidiaries are domiciled for any sales as it seeks to pay off its $85 billion rescue loan from the Federal Reserve.