Ion Bogdaneris, head of AIG Investments European alternative investments business, is no longer with the firm, a source at the firm confirmed. He had joined AIG Investments in 2006. The source would not say if Mr. Bogdaneris departure was part of a wave of layoffs reported at the firm and would not comment further.
A careful evaluation of resources and expenses to ensure that the business reflects current and future realities has resulted in the need to scale down AIG Investments' global work force. While this is a difficult and sensitive decision, it does allow the company to operate in a more disciplined manner in order to maximize enterprise value, according to a statement from AIG.
AIG Investments managed $676 billion in assets and had 2,100 employees as of Sept. 30, according to its website.