Win Jay Neuger (age about 60 in 2008) was the Chief Executive Officer, Chairman, and Director at AIG Global Investment Corp[1] in the years leading up to the financial crisis of 2008 and the fall of AIG. In March 2010, AIG sold its Global Investment Corporation renamed PineBridge Investments with Neuger as CEO to Bridge Partners. Bridge Partners, in turn, belongs to Pacific Century Group, an Asia-based investment firm, established by Richard Li.
Neuger received an M.B.A.from Dartmouth’s Amos Tuck Graduate School of Business and an A.B. from Dartmouth College. He worked at Bankers Trust before he joined AIG in 1995 where he came to oversee its global investment portfolio. With a large portfolio AIG lends out securities for short-sellers; typically money received is invested in safe short term vehicles (such as US treasury notes) until the securities are returned. Increasingly, after 2002, Neuger invested the money in the "riskiest investment possible", residential mortgage–backed securities.[2] His scheme collapsed when the housing bubble busted in 2008, rendering AIG unable to pay its customers and triggering a government bail-out in September 2008. Win Neuger lost $ 43b that were covered by the tax payer in the process.[2]
Neuger has been named one of the key architects of the AIG fiasco.[2][3]
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