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Allianz Global Moves Forward In Korea With New CIO

Vanessa Doctor

20 April 2010

Allianz Global Investors has appointed Eugen Loffler as chief investment officer for Asia Pacific, effective 1 April.

Loffler takes up base in Seoul, South Korea for the role, where the company has a large institutional business. He takes over from Nikhil Srinivasan, the present chief executive and CIO of Allianz IM Asia and board member at Allianz Group in Germany. He was most recently the head of investments at Allianz's life and non-life insurance units in Switzerland and head of the global equity team for Allianz IM. Prior to that, he was based in Korea and was CEO of Hana Allianz Investment Trust Management Company until 2005.

In a statement, Loffler said that regional CIOs traditionally were based in Hong Kong. However, with a huge number of investment professionals situated in Korea, moving back to East Asian country was necessary. In his new role, he reports to Douglas Eu, the Asia Pacific CEO for Allianz GI.

"Ultimately, it may be that the development of our business in mainland China requires us to deploy our largest investment team in Shanghai and/or Beijing. For the time being, though, Korea is the logical base," said Loffler.