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Rating:A $615B-AUM AM's Chief Splits the Reins Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 15, 2019

A $615B-AUM AM's Chief Splits the Reins

Reported by Neil Anderson, Managing Editor

The CEO of a giant, European, multinational, active asset manager with a U.S. presence is preparing to pass the reins to a pair of company veterans.

Andreas Ernst Ferdinand Utermann
Allianz Global Investors
CEO, Global Head of Investments
On January 1, Andreas Utermann, CEO and global head of investments at Allianz Global Investors [profile], will be succeeded by Tobias Pross as CEO and Deborah Zurkow as global head of investments, Utermann confirmed on Monday. (Doug Eu, CEO of AllianzGI's U.S. business, reports to Utermann.) London-based Utermann will stay on for the first half of 2020 as an advisor to the firm.

Tobias C. Pross
Allianz Global Investors
Global Head of Distribution
The Financial Times and Pensions & Investments both covered the coming handoff.

AllianzGI had 25 offices and more than 790 investment professionals worldwide, as of June 30, and the firm had more than 557 billion euros ($614.59 billion) in AUM as of September 30. Frankfurt-based Pross, a 20-year veteran of Allianz Group (AllianzGI's Munich-based parent), currently serves as AllianzGI's global head of distribution and has been on the asset manager's executive committee since 2015. London-based Zurkow, a seven-year AllianzGI veteran, currently serves as global head of alternative investments and has been on the asset manager's executive committee since 2016.

Deborah Michal Zurkow
Allianz Global Investors
Global Head of Alternatives
Utermann lauds Zurkow and Pross for having "the energy, insight and values to develop further AllianzGI's offering and reputation." Jackie Hunt, the Allianz management board member who oversees asset management (including AllianzGI and its giant fixed income-focused sibling), lauds Utermann for bringing "passion, care and clear-sightedness" to his leadership of AllianzGI and points to Pross and Zurkow as "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."

"Leaving AllianzGI will not be easy," Utermann states. "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."

"He will be missed," Hunt states. "I wish Andreas well and look forward to working more closely with Tobias and Deborah from 2020."

Utermann, who joined AllianzGI in 2002, rose to co-head and global chief investment officer in 2012, then stepped up as CEO in 2016 shortly before Hunt joined Allianz Group's board of management to oversee asset management and U.S. life insurance. He is an alumnus of the KU Leuven and of the London School of Economics and Political Science, and he worked at MLIM and Deutsche Bank before joining Allianz.

Pross, an alumnus of the University of Loerrach, worked in a host of institutional and distribution roles at Allianz and AllianzGI before taking over last year as head of global distribution.

Zurkow, an alumna of Yale University and of Wellesley College, joined AllianzGI in 2012 and rose to global head of alternatives in 2016. Prior to that she worked with MBIA. 

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