© Reuters. FILE PHOTO: The logo of insurer Allianz SE is seen on the company building in Puteaux at the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau
FRANKFURT (Reuters) – Allianz (DE:) is considering an acceleration of the succession planning for its management board following the demise of some of its U.S. investment funds last year, the German insurer said on Monday.
“These considerations are longstanding and strategic in nature, but also relate to the asset management division which is facing specific challenges at the moment because of the Structured Alpha matter in the U.S.”, Allianz said.
The supervisory board will discuss the succession planning for the management board at its next meeting, it added.
The Wall Street Journal said earlier on Monday that asset management head Jacqueline Hunt was in talks to depart.
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