Financials weak, AIG chief throws in the towel

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May 24, 2009 8:00am NYSE:XLF

towelU.S. financial stocks were little changed on Friday, with shares of American International Group the biggest loser after the company said its chief executive will resign.

The Financial Select Sector SPDR (XLF) , which tracks the financial stocks in the S&P 500, slipped 0.2%.

American International (AIG) said late Thursday that Chief Executive and Chairman Ed Liddy will leave after replacements are found. AIG also said it plans to split the roles of chairman and chief executive at the giant government-owned insurer.

Full Story:  http://www.marketwatch.com/story/financials-weak-aig-chief-throws-in-the-towel?siteid=yhoof



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