Allianz Investments has appointed Ilya Mozgovoy as deputy chief executive and head of asset management in Russia, Investment Europe reports.

Mozgovoy will oversee asset management for private, corporate and institutional clients, as well as mutual funds. He has been at the firm since 2005, latterly as a senior portfolio manager.

According to the report, chief executive Dmitry Vasyutinsky said the appointment was a "logical promotion within the company". Assets under management at the firm have reportedly more than doubled since 2005 and at end September stood at €770 million (about $992 million).

The firm had not responded to a request from WealthBriefing to confirm the move in time for publication.