Reuters

Allianz speeds up succession planning in light of Structured Alpha lawsuits

FRANKFURT (Reuters) -Allianz is considering speeding up succession planning for its management board, including for asset management head Jacqueline Hunt whose contract expires next year, following the closure of some of its U.S. investment funds last year. Allianz is facing a slew of investor lawsuits over its Structured Alpha Funds and related investigations by the U.S. Department of Justice (DOJ), Securities and Exchange Commission (SEC) and Germany’s Bafin. Allianz’ considerations regarding its management revamp also relate to the asset management division, the German insurer said on Monday, adding that the supervisory board will discuss the matter at its next meeting on Sept. 30.

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