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Man Group boss named Allianz subsidiary CEO

Man Group boss named Allianz subsidiary CEO

Man Group boss named Allianz subsidiary CEO Insurance giant Allianz has recruited the chief executive of the world’s largest publicly-traded hedge fund manager to lead one of its subsidiaries.
 
The insurer appointed Man Group boss Emmanuel Roman as the new CEO of Pacific Investment Management Company (PIMCO).
 
Roman will take on his new role on November 1, replacing Douglas Hodge, who will become managing director and senior advisor.
 
The insurer and PIMCO’s managing directors agreed to bring a new CEO on board “to position the firm for long-term success” following a “phase of rapid change” under Hodge’s leadership.
 
Roman, who has nearly 30 years of experience in investment management, is capable of accomplishing that goal, according to Jacqueline Hunt, member of the board of management of Allianz SE
 
“He is a highly respected industry leader with both the investment and management skills needed to drive PIMCO’s business forward,” said Hunt, the board member responsible for asset management and US life insurance.
 
“Doug Hodge has done a terrific job of leading PIMCO through what was a challenging time. We thank him very much and wish him success in his new role,” Hunt added.
 
One expert believes that the leadership change may indicate that the insurance giant is not satisfied with PIMCO’s growth.
 
“This could be a signal that Allianz isn’t totally happy with PIMCO despite the progress seen on containing redemptions; they still have lower inflows than peers,” Thomas Seidl, an analyst at Sanford C. Bernstein, told Bloomberg.
 
“This is going to be more complex than managing a firm with a leaner structure, so it’s probably not going to be an easy job.”
 
After serving as the firm’s president and COO, Roman has been the Man Group CEO since 2013 and executive director since 2011.
 
Roman is also known for working for over 18 years at Goldman Sachs, where he held top executive posts.
 
 
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