Commerzbank and AllianzGI agree to extend long-term partnership
7 days ago
Commerzbank and Allianz Global Investors today agreed to extend their premium partnership with retail and wealth management clients in Germany, introduced in 2008, with a long-term view.
Successful sales partnership expanded to include joint double-digit digital investments
"We are pleased to be able to continue to operate with such a strong partner in the investment business in the future," said Michael Mandel, Commerzbank's Board Member for Retail Business. "Our customers have benefited from AllianzGI's wealth management and market expertise for ten years. Together, we want to further develop the products and services we offer our customers".
Tobias C. Pross, Global Head of Distribution at Allianz Global Investors, added: "Commerzbank's strong position in the retail segment and our clear positioning as an active fund manager are an excellent starting point for further increasing our market share.”
AllianzGI will be Commerzbank’s ‘strategic product partner’, in particular in the Multi Asset space, and will be responsible for the management of the "Vermoegensmanagement" range of funds. For Commerzbank, the quality of AllianzGI’s multi asset products was an important factor in the agreement, underscored by the many award-winning funds in the "Vermoegensmanagement" family. The Assets Under Management in this range has risen to EUR 21.5 billion, with AllianzGI managing a total of EUR 83.2 billion in multi asset investments in Europe.
The existing partnership has helped AllianzGI develop into a market leader in multi asset investing, Pross continued: "Our explicit goal is to further expand this part of the business, building on the solid foundations that have helped us establish market leadership. This is a partnership that is set for joint growth". For that reason, the two partners have agreed to move beyond the scope of the previous successful sales partnership and will now also develop digital investment solutions together. To this end, they will jointly make investments in the double-digit millions. Pross: "We will invest massively over the next decade to always be able to offer Commerzbank clients solutions that are market-leading in every respect".
For further information please contact:
Stefan Lutz, Tel. +49 69 2443 1 4276
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 730 investment professionals in 24 offices worldwide and managing more than EUR 535 billion in assets for individuals, families and institutions*.
Active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.
Active is: Allianz Global Investors
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For investors in Europe (excluding Switzerland)
This is a marketing communication issued by Allianz Global Investors GmbH, www.allianzgi.com, an investment company with limited liability, incorporated in Germany, with its registered office at Bockenheimer Landstrasse 42-44, 60323 Frankfurt/M, registered with the local court Frankfurt/M under HRB 9340, authorised by Bundesanstalt für Finanzdienstleistungsaufsicht (www.bafin.de). Allianz Global Investors GmbH has established branches in the United Kingdom, France, Italy, Spain, Luxembourg and the Netherlands. Contact details and information on the local regulation are available here (www.allianzgi.com/Info).
For investors in Switzerland
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