American International Group has arranged for BlackRock Inc. to manage up to $60 billion of AIG’s global investment portfolio and up to $90 billion of its life and retirement investment portfolio. The arrangement involves certain liquid fixed income and private placement assets.
In addition, BlackRock’s Aladdin platform will provide investment management technology.
For the life and retirement business, the partnership creates strategic and operating flexibility “as we reposition the business to be a standalone company,” Peter Zaffino, AIG’s chairman and CEO, said in a release.
AIG announced last year that it planned to spin off its life and retirement unit.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
