Allianz Global Investors (AllianzGI) has appointed Carl W. Pappo – as CIO, US fixed income – and Frank Salem as senior portfolio manager fixed income, to launch a range of US bond funds for the insurer arm of the German group.
US Core, Core Plus, and Liability Driven Investing (LDI) strategies are the funds to be launched aimed at the US market.
The two hires, who have worked closely together for the past 10 years, will join the US fixed income team to be based in Boston and New York.
With over 25 years’ experience, Carl Pappo joins AllianzGI from Columbia Threadneedle Investments, where he most recently worked as lead portfolio manager and head of core fixed income, having also managed assets across institutional portfolios and mutual funds. In his new role, he will report to Franck Dixmier.
Frank Salem also joins from Columbia Threadneedle Investments, where since 1998 he has been working on the creation of highly customized LDI solutions for clients’ allocation needs, being also responsible for building out the LDI capability at the company.
Andreas Utermann, CEO and Global CIO of AllianzGI, said: “We are delighted that 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. Pappo’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 Pappo 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.”
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 €109bn to €195bn.