December - AIG cuts ahead of merger

Up to 70 people were said to have left the firm globally as it prepared to integrate subsidiaries AIG Trading and AIG Financial Products to form a new subsidiary, AIG Capital Markets.

The bulk of the departures were from AIG Trading’s Connecticut office, although London had also been affected, said sources close to the bank in the US.

By the end of the month it emerged that the bank’s whole FX sales desk in Paris and FX research in London had been closed as a result of the cuts.

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