AIG has new investment boss

AIG has confirmed its new chief investment officer will be Monika Machon succeeding Win Neuger, who will continue leading the management team of the external client asset management business that AIG intends to sell.

Machon will report directly to AIG chairman and chief executive officer Edward Liddy.

Jeffrey Hurd, who is currently AIG Investments senior managing director, chief administrative officer and general counsel, has been named senior vice president and head of asset management restructuring, responsible for the sale of AIG's external asset management business and the restructuring of AIG's asset management function.

"These changes will allow AIG to proceed quickly and thoughtfully with the sale of the external client asset management and life insurance businesses. In addition, under Monika's leadership, we will build on our commitment to a strong asset management function for AIG," Liddy.

Ms. Machon joined AIG in 1998 and is presently the global head of Fixed Income for AIG Investments and serves as chairperson of the board of AIG Investments Europe. Previously, she was portfolio manager and head of emerging markets debt.

Machon has more than 27 years of broad fixed income experience in the US