Allianz Australia Life Insurance Limited (Allianz) has appointed Adrian Stewart as its new acting chief executive officer – replacing Matthew Rady, who will leave the business.
Stewart has over 28 years of investment and financial service experience. He was the head of client management for APAC ex-Japan for PIMCO. He also served as the head of Australia and New Zealand for the firm. During his time at PIMCO, he founded Allianz Retire+ and has served as a board member since 2018.
Before joining PIMCO in 2014, Stewart was the head of wholesale distribution, marketing, and product management at Macquarie during his seven years with the Australian bank.
Commenting on his new role, Stewart said: “The unique capabilities across this business deploying the global resources of Allianz are unrivalled and present a significant opportunity in meeting the long-term retirement income and life protection needs of Australians.
“Since launch, the team has built a strong market presence and established key distribution channels. Our focus will be to continue this momentum, ensuring we offer our partners a broad suite of innovative and market-leading products.
“I look forward to working with the team to deliver on our strategic objective of expediting our product development capabilities and deepening our client partnerships across the institutional and wealth management channels.”
Stewart will assume responsibilities for Allianz Australia Life Insurance Limited and Allianz Retire+ Powered by PIMCO (Allianz Retire+).
David Plumb, the chairman of Allianz Australia Life Insurance Limited, said Stewart's track record in growing client-focused financial service businesses in the Australian market “keenly positions” the insurer for significant growth.
“In appointing Adrian as acting CEO, the board is instilling a proven leader with a deep understanding of the worldwide capabilities of the Allianz Group in retirement income and life protection solutions,” he added.
Plumb also expressed his thanks to Rady, saying: “I would like to thank Matt for his strong leadership in guiding the Allianz Retire+ team through the successful transition from project to business across his three-year tenure. Matt leaves having built a solid platform for the company, and we wish him every success in the future.”