AIG doesn’t sound like a name you want to be associated with it too much, but what if you buy it and rename it? That’s what Abu Dhabi-based investment firm, Aabar Investments, is going to do after acquiring AIG Private Bank, a wholly-owned subsidiary of the troubled AIG, for $254 million.
AIG Private Bank will become an independent financial institution, headquartered in Switzerland along with branches and representatives in Hong Kong, Shanghai, Singapore and Dubai.
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