AIG chose Bank of America Corp, Deutsche Bank AG, Goldman Sachs Group Inc and J.P. Morgan Chase & Co to manage the sale of the government's 92 percent stake in the insurer, two people familiar with the situation said on Tuesday. American International Group Inc and the government held a "bake off" in New York last Thursday, hosting CEOs and bankers from 10 of the world's largest firms to pitch for the right to manage the deal.
J.P. Morgan and Bank of America were two of the three joint lead arrangers on AIG's $4.3 billion bank credit lines, while Goldman and AIG have a long-standing relationship. The Deutsche Bank connection is less clear.