The new name of the New York-based company brings to an end the long transition process that started in September 2008 when AIG restructured its global business. It also follows closely, the renaming of AIG Insurance to Chartis Insurance in the region.
Through the rebranding processes, the companies are gradually distancing themselves from the AIG brand which suffered image distorting publicity in 2008 when its insurance division was threatened by a collapse.
In a statement, Jonathan Stichbury the MD and chief executive of PineBridge Investments East Africa said, “The new name is an exciting milestone and marks the beginning of a new era for the company.”
He said, the name PineBridge unites three elements in the company's make-up including; pine trees which are reliably evergreen, representing strength, stability and growth according to the MD's statement. “Pine is also a nod to our rich heritage and AIG's headquarters on Pine Street in New York and the Bridge portion speaks about our goal of forming a connection with clients, partners, employees, and the markets in which we operate.”
