Pimco Parent Allianz to Join Rush for Asset Management Deals
- Board member Hunt sees industry consolidation picking up
- Allianz is looking at targets with particular interest in Asia
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Allianz SE’s board member overseeing bond giant Pacific Investment Management said the German insurance company plans to play an active role in asset management consolidation as mergers and acquisitions in the fragmented industry speed up.
“We saw M&A acceleration in 2020, and it looks like there will be another acceleration this year,” Jacqueline Hunt, who runs Allianz’s $3 trillion-dollar asset management business that also includes Allianz Global Investors, said in an interview. “I think we will see more M&A, more generally. And we would participate in that.”