AIG Financial Products Corp. · Wilton, CT United States
Company Description
Phone: 203-222-4700
Fax: 203-222-4780
Toll Free: 800-248-7927
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This link will open in a new window A subsidiary of insurance giant American International Group , AIG Financial Products is a market maker and trader in over-the-counter derivatives of stocks, bonds, credit, and commodities as well as energy trading and foreign exchange markets. It operates outside the US through its subsidiary Banque AIG. It also offers economic research, pension strategies, online institutional trading, and municipal finance. In 2008 AIG Financial Products found itself at the center of controversy after its investments in credit default swaps, a type of debt insurance, collapsed. It was one of many woes that compelled the Federal Reserve to float an $85 billion emergency loan to its parent company to keep it solvent. To read the full description, subscribe now.
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Key AIG Financial Products Corp. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 199 |
AIG Financial Products Corp. Executives
8 executives listed for AIG Financial Products Corp.'s Wilton, CT location.
| Title | Name & Bio | Contact |
| Interim President and CEO | William Dooley | Network |
| Interim COO | Gerry Pasciucco | Network |
| SVP and Global Head of Prime Brokerage | Joseph Buthorn | Network |
Competition
Competitive Landscape for AIG Financial Products Corp.
Demand is driven by economic activity that results in company mergers, acquisitions, or public financing. The profitability of an investment bank depends on its ability to accurately assess both the value of a business transaction and the readiness of the market to buy the attendant debt or equity. Big firms have an advantage because large customer transactions require firms with substantial financial resources. Small investment banks can compete by participating in syndications and operating in regional markets or specialized industries. Although labor-intensive, the industry produces very high value: average annual revenue per employee at large firms is under $1 million. The global financial crisis of 2008-2009 dramatically altered the landscape of the investment banking industry. Morgan Stanley and Goldman Sachs, the only large firms still intact, have changed their status from investment banks to bank-holding companies. Both firms still engage primarily in investment banking, but former industry leaders such as Bear Stearns, Merrill Lynch, and Lehman Brothers have either been acquired or have filed for bankruptcy protection. The demise of these firms and the late 2000s recession have likely ushered in a new era in which the creation of innovative but risky financial instruments will be replaced by more traditional banking services. The new environment also means more industry oversight by the federal government, which had to step in and bail out dozens of financial services firms with billions of dollars of taxpayers' money. To read the full description, subscribe now.Top AIG Financial Products Corp. Competitors
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