NEW YORK (AP) — The insurer American International Group Inc. said Monday that it has completed its purchase of a securities brokerage from Hartford Financial Services Inc.
AIG agreed to buy Woodbury Financial Services on July 31. Woodbury is based in Oakdale, Minn., manages $125 billion in assets, and employs around 6,000 financial advisors.
AIG did not disclose the price of the purchase, but Hartford CEO Liam McGee told The Wall Street Journal this year that the deal could be worth as much as $90 million based on Woodbury's financial performance.
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