With an enhanced capital markets platform, Bank of America is helping AIGGIG meet its goals.
AIG Global Investment Group (AIGGIG) is a worldwide leader in asset management, with extensive capabilities across a wide range of asset classes. From its 44 offices around the world, AIGGIG manages more than $635 billion in assets and, through its member companies, provides clients with investment advice and asset management products and services. The member companies of AIGGIG are subsidiaries of American International Group Inc.
Given its substantial portfolio size, AIGGIG has complex needs for both investment strategy and execution. Until recently, AIGGIG executed only a modest volume of business through Bank of America. Then the bank enhanced and expanded its trading platform and initiated a disciplined sales approach to provide clients like AIGGIG with the entire range of services the bank could offer.
"Our entire team worked together to develop solutions for AIGGIG," said Ferdy Masucci, client manager for Global Markets. "They now receive seamless access to services across the entire bank, including sales and trading, issuance, leasing opportunities and wealth management for key executives."
Today, AIGGIG engages the bank for a broad range of investor services: research intelligence, transaction execution for stocks and bonds, and structured and liquid products. "In just a few short years, AIGGIG has greatly expanded its business with us," Masucci added, "and we're pleased that they now regard us as a key advisor and resource for all their needs."
The bank has helped AIGGIG achieve its business development goals, too, such as increasing assets under management. "Bank of America has a deep understanding of our business and anticipates our needs," said Richard Scott, chief investment officer for AIG Insurance Companies. "They consistently provide us with great investment strategy ideas, superior execution, the liquidity we need to manage our portfolios and easy access to all the resources of the company."
The result has been growth for both the bank and AIGGIG. This momentum is projected to increase as the bank invests in further upgrades of its trading and sales platform. "Our relationship with the bank is much broader and deeper than it used to be," Scott concluded. "They are now a top-tier counterparty."
Certain activities and services are provided by Banc of America Securities LLC and other affiliates of Bank of America Corporation.
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