Selling of parts of failed insurer attracts high fee advisers
Morgan Stanley will be paid a $4m fee, a further $2.5m each quarter, plus expenses, to act as primary financial adviser for any AIG public sell-offs, Dow Jones reports.
Federal Reserve documents also showed that Ernst & Young will get $60m for advice relating to AIG. The firm charges as much as $775.
AIG recently reduced its $80bn debt to the government by $26 billion in a deal that gave the Fed preferred shares in some of the insurer's businesses that might be spun off.
