Having broadened and deepened its fixed income capabilities significantly over many years, AllianzGI is now taking the natural next step in the evolution of its fixed income offering by bringing its capabilities into an integrated, global structure.
AllianzGI expands Fixed Income capability with addition of US team
Carl W. Pappo Jr. joins AllianzGI as Chief Investment Officer, US Fixed Income to build out US Fixed Income offering. Fixed Income is a major growth pillar for AllianzGI, providing further diversification of asset mix.
Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, announced today that it is further strengthening its Global Fixed Income capability by adding significant expertise in US Fixed Income investing. Carl W. Pappo Jr., CFA® and Frank Salem, CFA® have joined the firm as Chief Investment Officer, US Fixed Income and Senior Portfolio Manager US Fixed Income, respectively, to launch US Core, Core Plus, and Liability Driven Investing (LDI) strategies, filling a critical gap for AllianzGI in the US market.
Since 2012, AllianzGI has been building out its fixed income capability globally to enhance its client proposition and diversify the firm’s asset mix. During this period, it has established capabilities in Asian Fixed Income, Emerging Market Debt, UK Fixed Income and most recently, Global Fixed Income through the acquisition of Rogge Global Partners in 2016. Since 2012, AllianzGI has grown assets in Fixed Income from EUR 109bn to EUR 195bn.
Carl Pappo brings more than 25 years of experience in fixed income investing, most recently as Lead Portfolio Manager and Head of Core Fixed Income at Columbia Threadneedle Investments where he managed assets across institutional portfolios and mutual funds. Frank Salem has worked since 1998 to create highly customized LDI solutions for clients’ allocation needs and was responsible for building out the LDI capability at Columbia Threadneedle Investments. Carl and Frank have worked closely together for the past 10 years.
Commenting on the news, Andreas Utermann, CEO and Global CIO of AllianzGI, said:
“We are delighted that Carl Pappo and team have chosen to join AllianzGI as we continue on this next phase of growth by building out our US Fixed Income capability. Carl’s deep expertise in US fixed income will be invaluable as we look to him to lead this effort.”
Franck Dixmier, AllianzGI’s Global Head of Fixed Income added:
“US Core Fixed Income and LDI have been missing pieces in our Global Fixed Income offering, and I am very pleased that Carl and his team will be able to develop this important capability which meets a critical client need both in the US and globally, and complements our other capabilities in Fixed Income.”
As CIO, US Fixed Income, Carl will report directly to Franck Dixmier. The US Fixed Income team will be based in Boston and New York.
The firm’s Fixed Income capability is one of four complementary active investment pillars alongside Equity, Multi Asset and Alternatives.
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About Allianz Global Investors
Allianz Global Investors is a diversified active investment manager with a strong parent company and culture of risk management. With 25 offices worldwide, we provide global investment and research capabilities with consultative local delivery. We have around EUR 500 billion in AUM for individuals, families and institutions worldwide and employ over 650 investment professionals.
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