July 24, 2016 / 11:12 PM / 2 years ago

New Allianz asset management chief wants closer ties with Pimco: FT

The offices of Pacific Investment Management Co (PIMCO) (L) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake/Files

(Reuters) - A new top executive at German insurer Allianz wants to forge closer ties with its U.S. asset management business, Pimco, according to the Financial Times.

A report in Monday’s editions of the newspaper quoted Jackie Hunt, Allianz’s new asset management chief, as saying Pimco and Europe’s biggest insurer both saw a need for a closer relationship.

“You’ll see Allianz being more involved in the asset management businesses than in the past,” Hunt told the FT.

Hunt started her new role earlier this month. She oversees asset managers at Pimco and Allianz Global Investors, as well as Allianz’s U.S. life insurance business.

Last week, Pimco appointed a new chief executive officer, Manny Roman. It has faced turmoil following significant investor outflows in recent years and the departure of key executives, including its founder and former chief investment officer Bill Gross in 2014.

Reporting by Carl O'Donnell; Editing by Tom Brown

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