American International Group Inc. (AIG) announced that Monika M. Machon will replace Win J. Neuger as AIG’s investment chief. Mr. Neuger plans to go with the company’s external client asset management business when it is sold, a spokesperson said.

Ms. Machon, who will become AIG senior vice president and chief investment officer, will be responsible for insurance company portfolio management across all asset classes, the company explained.

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