AllianzGI announces succession plan for leading Global Technology team

30/03/2022

Summary

March 30, 2022 – NEW YORK – Allianz Global Investors (“AllianzGI”), one of the world’s leading active asset managers, announced today succession plans for its Global Technology investment team, which has been led by Walter Price since inception.

Key takeaways

  • Erik Swords joins AllianzGI to become next Head of Global Technology team
  • Justin Sumner joins AllianzGI as Senior Portfolio Manager on Global Technology team
  • Walter Price and Huachen Chen to retire at end of 2022 after collective 85 years of service to AllianzGI and its clients

March 30, 2022 – NEW YORK – Allianz Global Investors (“AllianzGI”), one of the world’s leading active asset managers, announced today succession plans for its Global Technology investment team, which has been led by Walter Price since inception.

After more than 48 years of service to AllianzGI and its predecessor companies, Walter Price will retire at the end of this year, along with his long-time partner and co-portfolio manager, Huachen Chen, who joined the firm a decade after Price. In the nearly four successive decades the two worked together, Price and Chen built and managed a highly successful platform through many cycles of market change and technological development.

Price will pass the baton as Global Technology team lead to Erik Swords, who will join AllianzGI from Newton Investment Management (“Newton”) on June 1, 2022, as a Managing Director and Lead Portfolio Manager, bringing over 20 years of global investment experience, the bulk of which was at Newton. At the same time, the team will welcome Justin Sumner as a Director and Senior Portfolio Manager with over two decades of experience, including 15 years working closely with Swords at Newton. The two share a strong technology and thematic-focused track record, having co-managed significant assets with global distribution, as well as a tenured-team approach, which will ensure complementary coverage and process continuity across AllianzGI’s existing Global Technology team.

“We’re incredibly grateful to Walter and Huachen for their steadfast commitment and performance given to this organization and their clients,” said Virginie Maisonneuve, Global CIO Equity at Allianz Global Investors. “In an industry that’s constantly changing and a sector that’s advanced beyond recognition, it’s testament to their resilience and passion that they have thrived as portfolio managers over multiple decades. They will move on with our gratitude and best wishes, and we are excited by the challenge to continue to build on the platform with the appointments of Erik and Justin alongside the ongoing contributions of the rest of the team.”

Swords and Sumner will be based in AllianzGI’s San Francisco office. Both will sit alongside and work closely with the rest of the Global Technology team, including Director and Senior Portfolio Manager, Michael Seidenberg, Senior Portfolio Manager, Danny Su, and Senior Analyst, Rich Gorman, as well as Sebastian Thomas, Managing Director and Lead Portfolio Manager for the Artificial Intelligence team, to further underscore the firm’s interconnected Technology and related Thematic investment offerings.

As separately communicated, Seidenberg will assume responsibility as Lead Portfolio Manager for the UK-based Allianz Technology Trust, which is run out of San Francisco. The two successors of the team will overlap with Price and Chen for seven months to help ensure a smooth transition, including broader team oversight and portfolio management process.


For further information please contact

Robin Pertusi, Media       +1 212 739 3172      Robin.Pertusi@allianzgi.com


About Allianz Global Investors

Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 23 offices worldwide and managing EUR 673 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.

Active is: Allianz Global Investors

Data as of December 31, 2021

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05/05/2022

Summary

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