AIG 2007 Annual Report Download - page 41

Asset Management Operating Income
(billions of dollars)
2003 2004 2005 2006 2007
0.5
1.9 2.0
1.5
1.2
AIG Investments acquired a 94 percent stake in Bulgarian Telecommunications
Company from Viva Ventures Holding GmbH and certain minority shareholders
in 2007. The acquisition is one of the largest take-private transactions in Bulgaria,
and demonstrates AIG’s long-term commitment to investing in emerging Eastern
European markets.
AIG 2007 Annual Report 39
AIGGRE was named “Developer of the Year”in the office
category by the Georgia chapter of the National Association of
Industrial and Office Properties, an award that acknowledged its
mixed-use Atlantic Station project in Atlanta and achievements in
environmental innovation and community involvement. In addition,
AIG Tower, a recent AIGGRE development in Hong Kong, was
recognized with the prestigious People’s Choice Award in the archi-
tecture category.
AIG Private Bank Ltd.,based in Zurich, specializes in providing
comprehensive asset management and private banking services to
a worldwide clientele. The bank performed satisfactorily in 2007
while it continued to expand its global wealth management business.
It established an office in Taipei to provide wealth management
products and services in Taiwan through Nan Shan Life Insurance
Company’s agency force. AIG Private Bank also signed a joint venture
agreement with Bank Sarasin & Co. Limited to form a new Swiss
bank that will cater to retail banking customers of both entities.
AIG SunAmerica Asset Management Corp. (AIG SAAMCo)
manages and/or administers over $55 billion in retail mutual funds
and investment options in AIG SunAmerica and AIG Retirement
(formerly branded as AIG VALIC) variable annuities sold to individ-
uals and groups throughout the United States.
In 2007, AIG SunAmerica continued to demonstrate strong
investment performance across several asset classes, stemming from
its strategy to expand its internal portfolio manager investment team
and sub-advisory platform. It was recognized with strong rankings
in Barron’s “Fund Family Rankings” published in February 2008.
Delivering consistent performance across several investment disci-
plines is AIG SunAmerica’s primary focus as it expands its product
offerings to meet the needs of baby boomers nearing retirement.
AIG SAAMCo also continued to enhance its market positioning
with value-added programs, such as Retirement Income Strategy.
This comprehensive tool assists financial advisors nationwide in
helping clients plan for both accumulation and distribution of
assets in retirement.
The AIG Advisor Group, Inc., the nation’s largest independent
broker-dealer network, achieved record operating income, revenues
and assets under management in 2007. Assets under management
for fee-based advisors surpassed $40 billion, reflecting the network’s
success in responding to the growing need for professional money
management services. The AIG Advisor Group introduced a series of
innovative financial products developed by AIG member companies
for the nearly 8,000 affiliated financial advisors in the network,
including specialty risk management solutions for high-net-worth
clients and a comprehensive liability management program.
The broker-dealer network also implemented a strategic realign-
ment of its core business services to accelerate the delivery of
technology support, independent product research and business-
building programs. All of these initiatives are designed to strengthen
relationships between financial advisors and their clients.