German insurer Allianz' fund management business is rebranding as Allianz Global Investors, dropping references to the Dresdner brand included in the creation of the London-based asset management business.
AGI will not be used to replace the Dresdner name in distribution in the company’s home market, where it has high recognition in the retail market.
And the compay’s Pimco fixed income subsidiary name will be retained because of the recognition that San Francisco-based brand has.
Joachim Faber, chief executive AIG, says the name change does not signify a new phase of acquisitions, nor a new or different foray into asset classes such as private equity or property.
”AGI is the fourth pillar of the Allianz group,” he says.
The name bring “simplicity” and works off “synergies” within and between Allianz group operations, he adds.
In practical terms, the name will be rolled out across Europe, North America and Asia for the retail business by the end of the first quarter of 2005.
Along with the name, the business will be stressing its three goals published today of top quartile performance, top quartile business returns, and broader global market penetration.
AGI in its ADAM form claimed funds under management of 753bn euros as of June this year.
Faber adds he sees significant business opportunities in both fixed income and the German pension markets.
The former is “not infinitely scaleable”, but should be able to continue growing substantially, while the latter is beginning to see increasingly rapid growth in funding of corporate pension schemes, which Faber describes as “flourishing” following pensions reform in Germany.
Faber says he believes only voluntary as opposed to compulsory schemes can survive over time - given the right incentives, such as tax breaks. With these in place voluntary schemes become real funded alternatives to government pensions, he says.IFAonline
'Managed separation update'
The chairman discusses his surprise holiday job
Three months on
Regulator has stepped in