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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| American International Group Inc | NYSE:AIG | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -1.66 | -2.13% | 76.44 | 78.56 | 76.22 | 77.76 | 1,190,391 | 15:42:28 |
From May 2019 to May 2024
By Chelsey Dulaney and Leslie Scism
American International Group Inc. said Tuesday that it is buying First Principles Capital Management LLC and tapped the private-investment management firm's top executive as its new investment chief.
First Principles CEO Douglas A. Dachille will succeed William N. Dooley, 62 years old, who is retiring after nearly 40 years with AIG. Mr. Dachille, who is 51, will also become executive vice president.
Mr. Dachille has led First Principles for 11 years and previously was president of Zurich Capital Markets. He began his career at J.P. Morgan Chase & Co.
First Principles, a fixed-income investment manager with about $10 billion in assets under management, serves clients, including endowments and pension plans.
The acquisition is expected to close in the third quarter of the year. First Principles will operate as a wholly owned subsidiary of AIG. Terms of the deal weren't disclosed.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com and Leslie Scism at leslie.scism@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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