A special board committee of American International Group Inc has hired its own financial adviser, a sign the insurance company is setting plans to repay taxpayers, the Wall Street Journal reported on Tuesday.
The four-member committee has hired investment-banking firm Rothschild as its independent adviser, the Journal said, citing a person familiar with the matter.
An AIG spokeswoman was not immediately available for comment. A representative from Rothschild could not be reached for comment.
AIG's nonexecutive chairman Harvey Golub established the panel last month to oversee what is expected to be the largest capital restructuring in history, the Journal said, citing a different person familiar with the matter.
Douglas Steenland, former CEO of Northwest Airlines Corp, heads the special committee, the Journal said.
The panel also includes Robert Steve Miller, former executive chairman of auto-parts maker Delphi Corp; Henry Miller, managing director of restructuring specialist Miller Buckfire & Co; and Morris W. Offit, chairman of Offit Capital Advisors LLC, the Journal said.
The U.S. government has pledged up to $182.3 billion to bail out AIG and owns nearly 80 percent of the company.
(Reporting by Ilaina Jonas; Editing by Gary Hill)