AIG

AIG CLEARS DECKS AT ASIAN ARM AIA

Bob Benmosche, AIG's chief executive, has moved to stamp his authority on the insurer after winning a boardroom battle, replacing the head of the company's giant Asian arm only months before its planned listing.

The bailed-out US insurer is expected to announce on Monday that Mark Tucker, a former head of the UK's Prudential, will take over from Mark Wilson, the chief executive of AIA since 2006, according to people close to the situation.

The move comes after the high-profile collapse of the Pru's $35.5bn bid for AIA, which Mr Wilson opposed, forced AIG to go back to its original plan of a Hong Kong listing of AIA that could raise more than $20bn.

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