Asset Management: Allianz wants other people’s money
The decision by Allianz to launch an asset-management subsidiary on July 1 had been well trailed. But it still managed to raise a few eyebrows in the German financial community. There have been persistent rumours that an asset management cooperation between Allianz and its largest shareholder, Dresdner, is imminent.
Neither side denies that discussions have taken place about future cooperation. Henning Shulte-Noelle, Allianz’s chief executive, has described “intensive talks”.
If a merger happens, where does it leave Allianz? Dresdner RCM Global Investors’ product is arguably more advanced.
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