American International Group (AIG) has appointed John Panagakis as chief executive officer (CEO) of its fixed income investment manager, First Principles Capital Management (FPCM).
Acquired in 2015, FCPM is a unit of AIG Investments that serves institutional clients with expertise across the global fixed income securities and derivatives markets.
Panagakis joins the business from US asset manager TIAA Nuveen, where he has spent more than 30 years in a variety of asset management, operational, and advisory leadership roles.
In hiw new role Panagakis 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 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.”
Panagakis said: “Joining FPCM at this time presents an exciting opportunity to partner with the broader AIG Investment organisation.”