NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG) today announced that John Panagakis has been elected as Chief Executive Officer, First Principles Capital Management, LLC (FPCM), the unit of AIG Investments that serves institutional clients with expertise across the global fixed income securities and derivatives markets, effective today. He will be based in New York and report to Douglas Dachille, Executive Vice President and Chief Investment Officer of AIG.
“John is a recognized leader in financial services and investments. He has an extensive track record in all aspects of asset management and distribution, along with significant operational and leadership experience,” said Mr. Dachille. “His proven expertise in the development and distribution of investment services for institutional investors and intermediaries will be an advantage for FPCM in the market.”
Mr. Panagakis said, “Joining FPCM at this time presents an exciting opportunity to partner with the broader AIG Investment organization.”
Mr. Panagakis joins FPCM from TIAA Nuveen, where he spent more than 30 years in a variety of asset management, operational and advisory leadership roles, most recently as Executive Vice President, Head of International Advisory Services. While at TIAA Nuveen, he transformed the organization from a U.S.-focused asset manager to a global presence with international distribution, product and marketing offerings. During his tenure, he also held numerous other leadership roles that included Executive Vice President, Head of Global Institutional Business Development; Managing Director, Head of Institutional Distribution; and Director, Northeast Region Institutional and Individual Services.
FPCM, a fixed income investment manager with approximately $8 billion in assets under management (as of June 30, 2019), was acquired by AIG in 2015. It has continued to operate since that time as a wholly-owned AIG subsidiary within AIG Investments. FPCM provides customized investment management services to institutional clients, including endowments and foundations, corporate trusts, financial institutions, and pension plans, as well as to family offices and private clients. More information about FPCM is available on the firm’s website at www.fpcmllc.com.
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
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AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.