American International Group, Inc. (AIG) has announced the appointment of John Panagakis as Chief Executive Officer (CEO) of First Principles Capital Management, LLC (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.
Most recently he served as Executive Vice President, Head of International Advisory Services.
Previous leadership positions included Executive Vice President, Head of Global Institutional Business Development; Managing Director, Head of Institutional Distribution; and Director, Northeast Region Institutional and Individual Services.
In his new role, Panagakis will be based in New York, reporting to Douglas Dachille, Executive Vice President and Chief Investment Officer at AIG.
“John is a recognized leader in financial services and investments,” said Dachille. “He has an extensive track record in all aspects of asset management and distribution, along with significant operational and leadership experience.”
“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,” Dachille added.
Panagakis also commented: “Joining FPCM at this time presents an exciting opportunity to partner with the broader AIG Investment organization.”
FPCM is a fixed income investment manager with approximately $8 billion in assets under management as of June 30, 2019.
It provides customized investment management services to institutional clients, including endowments and foundations, corporate trusts, financial institutions, and pension plans, as well as to family offices and private clients.