Bank of East Asia buys AIG's Taiwan securities arm-paper

TAIPEI, March 26 (Reuters) - Bank of East Asia (0023.HK) has acquired the Taiwan securities arm of American International Group (AIG.N), the Economic Daily reported on Thursday, citing unnamed sources.

The acquisition indicates Bank of East Asia, Hong Kong's fifth-largest lender, is interested in tapping the wealth management markets in Taiwan, China and Hong Kong, the paper said. It said the deal was worth "millions of dollars".

AIG Wealth Management Services Ltd, the U.S. insurer's securities arm in Taiwan, declined to comment on the report. Bank of East Asia was not immediately available for comment.

The acquisition, subject to regulatory approval by Taiwan, comes as troubled AIG is trying to shed its assets to help shore up its financial position.

Shares of Bank of East Asia ended 2.81 percent lower in Hong Kong on Wednesday, while the Hang Seng Index .HSI fell 2.1 percent. (Reporting by Faith Hung, Editing by Muralikumar Anantharaman)