Asset Management: Allianz wants other people’s money

Allianz has a 100-year history of managing insurance assets. Internationalization of capital markets, fierce competition in asset management and the arrival of the euro have prompted the company to set up a third-party investment firm. Is Allianz Asset Management ready for the challenge ahead?

Moving out of Germany

Dresdner alliance rumoured

Most people setting up a new investment house would be happy to start with a few million dollars under management. Markus Riess is more fortunate. Launched on July 1 1998, his new company has Dm600 billion ($335 billion).

The chief investment officer and joint managing director of Allianz Asset Management has assembled a team in an unostentatious building in Munich away from the financial centres of Frankfurt, London and New York.

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