AIG Says It Has Not Dumped Goldman Sachs

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Global Banking News

May 13, 2010 Thursday

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AIG says it has not dumped Goldman Sachs

Insurance provider, AIG (NYSE: AIG) has made it clear that it has not dumped Goldman Sachs (NYSE: GS) as its banker.

AIG chairman, Harvey Golub, while responding to a shareholder’s query, said, ‘Goldman is a fine firm and does a lot of things extraordinarily well…where they can serve the purposes of AIG we will continue to use them.’

AIG had earlier hired Citigroup, Inc (NYSE: C) and Bank of America (NYSE: BAC) to advise it on its upcoming recapitalization plan.

There is a long standing relationship between the two companies, and they had even considered merging in the late 1990s.

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May 13, 2010