Allianz Global Investors Fund Management has appointed a new Chairman and General Manager.

After a six-month interval, the senior management team at this foreign-owned public fund company has been finalized.

On the evening of January 23, Allianz Fund announced that the current General Manager, Shen Liang, has been promoted to Chairman, while the former Deputy General Manager, Zheng Yuchen, has taken over as General Manager and will continue to serve concurrently as Chief Investment Officer.

In recent years, several foreign-funded asset management companies have experienced changes in senior management, involving firms such as BlackRock, Fidelity, Manulife, JPMorgan, and Morgan Stanley Huaxin Fund. Industry insiders view this as a reflection of both the intense competition and talent mobility within the fund industry, as well as the dynamic adjustments foreign institutions are making in their localization and globalization strategies.

Allianz Fund has appointed a new Chairman and General Manager.

On the evening of January 23, Allianz Fund issued an announcement stating that Shen Liang has been appointed as the company's Chairman, and Zheng Yuchen has assumed the role of General Manager.

According to his resume, Shen Liang, the current General Manager, joined Allianz Global Investors in January 2021. He previously served as Investment Director at Manulife-Teda Life Insurance Co., Ltd., Chief Administrative Officer (Asia-Pacific) at Morgan Stanley Asia Limited, Deputy General Manager at Morgan Stanley Huaxin Fund Management Co., Ltd., Chief Operating Officer (COO) of the Asia-Pacific Operations Department at Morgan Stanley Asia Limited, Executive Director and Legal Representative at Shenzhen Century Point Investment Consulting Management Co., Ltd., Vice President at Rongtong International Asset Management Limited, and Head of China Wealth Management Business at Mercer (China) Co., Ltd. Shen Liang has also worked at PricewaterhouseCoopers, Manulife Financial, and Manulife (International) Limited.

Zheng Yuchen currently serves as Deputy General Manager and Chief Investment Officer of Allianz Fund. He joined Allianz Global Investors in January 2022 and previously held positions such as Researcher, Portfolio Manager, and Head of Investment Department at Allianz China Life Insurance Co., Ltd., as well as Investment Consulting Director, Head of Fixed Income Department, Fund Manager, Head of Insurance Institution Asset Management Department, and Investment Director at HSBC Jintrust Fund Management Co., Ltd.

In July of last year, Wu Jiayao, the inaugural Chairman of Allianz Fund, resigned for personal reasons, and the Chairman position was temporarily assumed by General Manager Shen Liang.

In addition to the management changes, Allianz Fund is also accelerating its recruitment efforts. Job postings on various recruitment platforms show that since the beginning of the year, Allianz Fund has successively posted openings for positions such as Head of Marketing Planning Department, Marketing Manager, and Senior Compliance Manager.

Recent years have seen frequent personnel changes in foreign-owned public fund companies.

Public information indicates that Allianz Fund is a wholly foreign-owned public fund management company fully controlled by Allianz Global Investors. Allianz Global Investors is part of the Allianz Group, one of the world's largest insurance and asset management groups, which has been deeply involved in the Chinese market for over 30 years. In August 2023, Allianz Fund, wholly owned by Allianz Global Investors, was officially approved for establishment. In April 2024, Allianz Fund received approval to commence business operations.

Wind data shows that as of the end of the fourth quarter of last year, Allianz Fund managed a total asset size of 976 million yuan, with two hybrid funds and one bond fund under its management.

Including Allianz Fund, there are currently nine wholly foreign-owned public fund management companies in China's public fund market. In recent years, personnel changes at these wholly foreign-owned public fund companies have been frequent. Last year alone, several companies, including BlackRock, Fidelity, Manulife, JPMorgan, and Morgan Stanley Fund, experienced changes in senior management, involving positions such as Chairman, General Manager, Deputy General Manager, and Chief Information Officer.

A veteran public fund professional in Shanghai stated that the frequent changes in senior management at foreign-owned public fund companies in recent years are essentially the result of multiple overlapping factors, including strategic alignment, performance evaluation, localization磨合, incentive mechanisms, and industry competition. This is both a normal phenomenon at this stage of industry development and reflects the deeper challenges foreign institutions face in operating in China.

He believes that personnel changes will continue in the future, with a core shift towards "localization + professionalization." Talented individuals with a global perspective and local resources will become the key targets for foreign public fund companies. Simultaneously, these companies will gradually optimize their governance structures to balance headquarters control with local empowerment.

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