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AIG to sell division to Abu Dhabi firm


NORTH CAROLINA: American International Group on Monday said it had agreed to sell its wealth management arm AIG Private Bank to Aabar Investments PJSC of Abu Dhabi. The terms of the deal were not disclosed. Under its new ownership, AIG Private Bank will become an independent financial institution, headquartered in Switzerland along with branches and representative offices in Hong Kong, Shanghai, Singapore and Dubai. — AP

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