Allianz Global Investors

Allianz Global Investors (commonly called AllianzGI or AGI), is a global investment management firm with offices in over 20 locations worldwide. It is owned by the global financial services group Allianz. Employing nearly 3,000, it manages over EUR 500 billion in assets on behalf of institutional and retail clients and also of Allianz itself.

Allianz Global Investors
TypeSubsidiary
IndustryFinancial services
Founded1998 - Creation of separate investment unit within Allianz
2012 - Establishment of a globally integrated investment firm
Number of locations
25
Area served
Worldwide
Key people
Tobias C. Pross, CEO and Deborah Zurkow, Global CIO
ServicesInvestment management
AUM€673 billion (31 December 2021)
Number of employees
2900
ParentAllianz
Websitewww.allianzgi.com

Leadership

Tobias C. Pross is Chief Executive Officer (CEO) of Allianz Global Investors, a position he has held since the start of 2020. Prior to 2020, Allianz Global Investors was led by founding CEOs Andreas Utermann and Elizabeth Corley.

History

Allianz first created a separate asset management business in 1998 under the leadership of board member, Joachim Faber. Through a combination of asset management acquisitions as well as acquisitions of other businesses that had asset management units, Allianz established a large asset management division comprising different investment ‘boutiques’.

By 2010 the Allianz asset management division, going under the name of Allianz Global Investors by then had reached EUR 1500bn.[1] In 2011, a decision was taken to combine most of the different investment managers into a globally integrated asset manager;[2] from 2012 Allianz moved to what they call a “two pillar” model where Allianz Global Investors and PIMCO operate separately from each other despite common ownership.[3][4]

When Allianz Global Investors was established as an integrated asset manager in 2012, it was managing EUR 279bn in assets. By March 2019, assets under management were EUR 535bn; these assets were split between investments in equity (25%), fixed income (35%), multi asset (26%) and alternatives (14%).[5]

On August 1, 2021 Allianz Global disclosed that the United States Department of Justice began a probe into Allianz Global's Structured Alpha Funds in 2021, following claims that Structured Alpha Funds were not properly safeguarded against the financial market impact of the COVID-19 pandemic.[6] The Department of Justice investigated the conduct of fund managers to determine whether they had misrepresented financial risk to investors.[7] As of September 10, 2021, at least 25 lawsuits had been filed against Allianz Global by investors, seeking a total of $6 billion in damages. Many of these investor lawsuits were filed by American public pension funds, including New York City Subway employees and employees of the City of Milwaukee.[8]

The German Federal Financial Supervisory Authority launched an investigation into Allianz Global Structured Alpha Funds.[9][10]

References
  1. "Allianz 2010 results presentation" (PDF). Allianz website. p. B43. Retrieved 5 September 2018.
  2. Dimitrov, Steve (6 September 2011). "AllianzGI announces restructure". Funds Europe. Retrieved 5 September 2018.
  3. Ricketts, David (28 March 2017). "Culture will keep us apart". Financial News. Retrieved 5 September 2018.
  4. Mooney, Attracta (18 February 2006). "Pimco and AllianzGI: A tale of two fund houses". Financial Times.
  5. "Facts and figures". AllianzGI website. Retrieved 21 June 2019.
  6. "Allianz faces possible 'worst case' €6.8bn hit over funds in US probe". InternationalInvestment. 19 August 2021. Retrieved 13 September 2021.
  7. "EXCLUSIVE U.S. DOJ looking into conduct of Allianz fund managers". Reuters. 10 September 2021. Retrieved 13 September 2021.
  8. "U.S. DOJ looking into conduct of Allianz fund managers". CNBC. 10 September 2021. Retrieved 13 September 2021.
  9. "Allianz under investigation by German regulator". CityAM. 7 September 2021. Retrieved 13 September 2021.
  10. "German Regulators Initiate Probe Into Allianz After Disappearance of U.S Investment Funds – Argus Journal". Retrieved 13 September 2021.
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