Allianz AM head in talks over 'accelerated succession planning' - reports

Jacqueline Hunt, a member of Allianz's board of management in charge of Allianz Global Investors, Pimco and the group's US life insurance business, is reportedly in talks about an early departure, according to widespread media sources. 

The Wall Street Journal first reported the talks over Hunt's departure on 20 September.

Allianz subsequently issued a statement saying it was "considering an acceleration of its succession planning" for its management board, adding that these considerations "relate to the asset management division which is facing specific challenges at the moment because of the Structured Alpha matter in the US".

The talks over Hunt's departure began "many months ago", said one of the people familiar with the matter.

According to the FT, Hunt said that it would be incorrect to link her potential departure with the Allianz' legal woes in the US over the Structured Alpha funds.