JSM Financial: AIG asset sales are keeping bankers busy and making a packet.

March 28, 2010 - PRLog -- Auctions of the federally bailed out American International Group Inc.’s assets are keeping Wall Street bankers in the money, with almost every Major Wall Street bank getting a slice of the fee’s pie, JSM Financial understands new estimates from Freeman Consulting indicate.

A large proportion of these banks were ironically also recipients of tens of billions of U.S. bailout dollars which were funneled through AIG during the global financial crisis thus saving them from huge potential losses.

This quarter has, JSM Financial research shows, seen the biggest sale assignments  come to fruition when in only a few short weeks AIG negotiated deals to sell of two of its major foreign  life insurance businesses. In the first, Alico went to MetLife Inc. for about $ 15.5 billion and then AIG’s Asian unit was sold to Prudential for around $35.5 billion.

These two deals have had a significant impact on the first–quarter rankings of the deal advisers with Blackstone Group LP, who JSM Financial sources say have advised the insurance firm throughout the financial crisis, leaping to No.9 in the global standings from its pre-AIG position of No.78 .Prudential’s advisers meanwhile moved up from No.11 to the No.5 position.

In its ongoing efforts to repay its $182.3 billion bailout debt, AIG has been involved in as many as 90 deals with a disclosed value of $67.7 billion according to the latest data, which collectively will generate $567.2 million in advisory fees.

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