Smith has been promoted to managing director, Allianz Global Investors Europe, with retail sales responsibility for the UK as well as continental Europe excluding Germany. He was formerly head of retail sales for Northern Europe, based in London, where he will remain.
Retail sales in Germany, Allianz GI’s home market, will be headed by Mathias Müller.
In total, the firm has created distinct new senior management roles covering European business development in an attempt to streamline the reporting line into James Dilworth, chief executive officer Europe.
Tobias Pross will run institutional business development across the whole of Europe, Germany included, reporting, as will Smith, to Dilworth.
The team also includes Thomas Linker, who will continue to manage the key relationships with the multinational distributors, Frank Wolfert responsible for relations within the Allianz Group and Martin Keil running the developing regions division.
They also report to Dilworth.
James Dilworth, CEO Europe at AllianzGI commented: “The new structure reflects the increasing alignment towards business development for institutional and retail clients and is part of our strategy to revamp our structures in Europe to ensure that we benefit from this increasingly harmonised single market.
"This drive towards simplification and harmonisation is likewise reflected in our corporate structures where we are reducing the number of legal units, as well as managerial responsibility which we are progressively reshaping so as to leave behind obsolete national borders.”