Allianz Global Investors chief executive to retire at the end of the year

Andreas Utermann has been chief executive officer at Allianz Global Investors since March 2016.

Asset manager Allianz Global Investors has confirmed that its chief executive and global head of investments, Andreas Utermann, will retire at the end of this year.

Utermann has been CEO of Allianz Global Investors since March 2016, having first joined the institution in 2002 as global CIO for equities. He will be replaced as CEO by global head of distribution, and 20-year Allianz Global Investors veteran, Tobias Pross.

Deborah Zurkow, global head of alternatives at Allianz Global Investors, will also replace Utermann as global head of investments. She has been with the firm since 2012, building out its infrastructure debt capabilities and overseeing growth of the alternative investments platform.

“Leaving Allianz Global Investors will not be easy,” Utermann commented on his departure. “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 Allianz Global Investors’ offering and reputation.”

Allianz Global Investors said that the leadership changes are due to take effect on 1 January 2020, although Utermann will remain available to the leadership team on an advisory basis for the first six months of next year.

“[Utermann] hands over the leadership of the firm to individuals who are well placed to make the best of the options available to Allianz Global Investors 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,” Jackie Hunt, member of the Allianz board of management with responsibility for asset management, concluded.