Finace And Stock

WSJ News Exclusive | Allianz Asset Management Chief Jacqueline Hunt to Step Down

Jacqueline Hunt had been due to stay on in her asset-management role until 2022.



Photo:

Wolfgang Stahr/Allianz 2021

Allianz


ALIZY -0.09%

SE’s top asset-management executive is leaving her day-to-day role, according to the company, part of a wider management shake up that follows the launch of a Justice Department investigation into losses by a suite of funds run by the company.

The Wall Street Journal last week reported that

Jacqueline Hunt

was in talks to depart. Ms. Hunt will be replaced as of Friday and will serve as a consultant to Chief Executive

Oliver Bäte

going forward, the company said.

Ms. Hunt joined Allianz in 2016 to oversee its asset management and U.S. life insurance businesses, which include investment arms Allianz Global Investors and Pacific Investment Management Co. Her contract was renewed in 2019 and she was due to stay on until 2022.

Ms. Hunt, who also served on the management board, will be succeeded by

Andreas Wimmer,

chief executive of Allianz’s life insurance business in Germany.

“Andreas is a retirement expert who can help Allianz solve the types of societal pressures brought on by eroding social security and chronic pension underfunding,” Mr. Bäte said.

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