Workers pulled down an AIG sign in New York City today as the insurer sought to rebrand itself and deflect outrage over executive bonuses, Reuters reports. The company's Manhattan property-casualty office, renamed AIU Holdings Ltd, wasn't the first to change its name since the bailout started last fall. AIG's US auto insurance arm reverted to its old name, 21st Century.
Execs will likely rename the company itself, which has been called AIG for more than 40 years. "I think the AIG name is so thoroughly wounded and disgraced that we're probably going to have to change it," chief executive Edward M. Liddy told a Congressional subcommittee last week.