Allianz Global Investors Boss Utermann to Retire in January--Financial News
11 November 2019 - 02:02PM
Dow Jones News
By David Ricketts Of Financial News
Andreas Utermann, the chief executive of Allianz Global
Investors, is to step down from his role after eight years running
the 557 billion-euro ($613.5 billion) asset manager.
Utermann, who took sole charge after former co-head Elizabeth
Corley stepped back in 2016, will retire on Jan. 1, 2020, according
to a statement. Tobias Pross, global head of distribution, will
become AllianzGI's new chief executive. Pross has been a member of
AllianzGI's global executive committee since 2015.
Utermann--who has worked at Allianz since 2002--was also
AllianzGI's global chief investment officer. He will be succeeded
in this role by Deborah Zurkow, a regular on Financial News's
annual list of the most influential women in European finance, and
who has overseen the expansion of the investment group's
alternatives business.
Utermann will remain available to the new leadership of
AllianzGI on an advisory basis for the first six months of
2020.
Brussels-born Utermann is one of the most outspoken asset
management chief executives in the City. Last year he told FN that
he worried London faces a "brain drain" as a result of Brexit, and
called the U.K.'s departure from the European Union an "unmitigated
disaster".
Commenting on his departure, Utermann said: "Leaving AllianzGI
will not be easy. Having had the opportunity to work alongside so
many talented and engaging people, to develop and lead a strong
team and to build a respected global investment business, is a
source of great pride.
"It is therefore comforting to be able to pass on the leadership
of the firm to Tobias and Deborah, both of whom have the energy,
insight and values to develop further AllianzGI's offering and
reputation."
Jackie Hunt, a member of the Allianz board of management with
responsibility for asset management, said Utermann "will be
missed".
She added: "He hands over the leadership of the firm to
individuals who are well placed to make the best of the options
available to AllianzGI to continue to serve clients well in a
period of change within the industry. I wish Andreas well and look
forward to working more closely with Tobias and Deborah from
2020."
Website: www.fnlondon.com
(END) Dow Jones Newswires
November 11, 2019 07:47 ET (12:47 GMT)
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