German financial services giant Allianz is set to complete its integration with Dresdner Bank's asset management business with three senior appointments.
The firm expects the deal to be sealed by the end of July which will form Allianz Dresdner Asset Management (ADAM) - the world's third-largest investment house with about EUR1trn under management.
Allianz’s Joachim Faber is appointed chief executive, and Dresdner’s Joachim Madler will be the new entity’s deputy chairman.
William Thompson from Allianz's US subsidiary Pimco Advisors will head global bond investment and William Price from Dresdner's San Francisco-based RCM will be responsible for stock investing. Udo Frank, from Allianz's investment business has been appointed deputy head of stock investing.
By Madhu Kalia
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.