AIG (AIG) sells a slice of its investment advisory and asset management business to Hong Kong...

|By:, SA News Editor

AIG (AIG) sells a slice of its investment advisory and asset management business to Hong Kong tycoon Richard Li's Pacific Century Group for $500M. (PR) The units being sold operate in 32 countries and manage $88.7B; AIG will maintain its in-house asset management unit that manages $480B in assets.