27 June 2018 - Cited from the Allianz website
Allianz Retire+ Powered by PIMCO Appoints CEO and Board
- Matthew Rady to become Chief Executive Officer.
- Adrian Stewart will transition from interim CEO to Board member.
- Patria Mann, David Plumb and Hon. Bernie Ripoll will serve as independent non-executive directors of the Board, with David serving as Chair.
- Follows the public launch of the retirement income business in May.
Sydney, Australia (June 27, 2018) – Allianz Retire+ Powered by PIMCO (“Allianz Retire+”) has announced Matthew Rady as its CEO and three industry experts as independent non-executive directors. Patria Mann, David Plumb (who will serve as Chairman) and Hon. Bernie Ripoll will join the Board as independent non-executive directors.
This announcement follows the launch of Allianz Retire+ in May, a new business that combines the expertise of Allianz’s global life insurance business with PIMCO’s global investment management experience to deliver the next generation of retirement income solutions.
In his new role, Mr. Rady will be responsible for leading Allianz Retire+’s business in Australia, including launching its first retirement income product later this year. He will assume his responsibilities immediately and Adrian Stewart, Head of PIMCO Australia and New Zealand, who has been acting as interim CEO, will become a non-executive director to the Board.
Mr. Stewart said: “Matt is an exceptional executive with the industry expertise, client orientation and leadership skills to position Allianz Retire+ for long-term success.”
Mr. Rady said: “It’s an honour to be chosen as CEO and to represent and lead such an exceptional business. Along with our talented team, I look forward to helping our clients meet their unique retirement income objectives.”
“As the demand for retirement income continues to develop, Allianz Retire+ is well-positioned to deliver best-in-class retirement income solutions and services,” he added.
Matt Rady is Chief Executive Officer at Allianz Retire+. Mr. Rady has over 25 years of investment and financial services experience and was most recently Group Executive, Financial Markets at IRESS Ltd. Prior to IRESS he was an executive director at Macquarie Group, where he worked for 18 years in a variety of senior roles including Head of Banking and Financial Services in North America and Head of Macquarie Global Investments. He is currently chairman of Stake. Matt holds a bachelor’s degree in economics from Adelaide University and is a Graduate member of the AICD. He is also a former member of Chartered Accountants Australia and New Zealand.
David Plumb is currently non-executive Chairman of BT Funds Management and a non-executive director of Insurance and Care NSW (“icare”). Mr. Plumb brings strong Board leadership, governance and finance experience to the Allianz Retire+ Board. Additionally, with over 32 years’ in financial services as a director, adviser and executive, he provides expertise in transforming businesses, commercial acumen and a deep knowledge of the wealth management, investment management and insurance sectors. He holds a master’s degree in economics from Macquarie University and a bachelor’s degree in commerce from the University of New South Wales. He is also a Fellow Chartered Accountants Australia and New Zealand and a Graduate member of the AICD.
Patria Mann is currently a non-executive director of Allianz Australia Limited, Event Hospitality and Entertainment Limited and Ridley Corporation Limited. She has 14 years’ experience as a superannuation fund non-executive director having been on the boards of First State Super and Perpetual Superannuation Limited. Formally a partner at KPMG and an experienced director, Ms. Mann brings superannuation, audit, investigation, risk management and governance experience to the Allianz Retire+ Board. Patria is a Chartered Accountant and a Fellow of the AICD.
Hon. Bernie Ripoll
Hon Bernie Ripoll served in the Australian Parliament as a member from 1998 to 2016 in both government and opposition roles and on many Joint Parliamentary Committees as the Chair or Deputy Chair. In Opposition, he served in many Shadow Ministerial roles including as Shadow Minister for Financial Services and Superannuation. He chaired the Parliamentary Joint Committee on Corporations and Financial Services delivering the "Ripoll Report" that led to the Future of Financial Advice (FoFA) legislative reforms. Mr. Ripoll is a non-executive director for not-for-profit Inala Primary Care and Crohn’s and Colitis Australia, a director at the Finance and Energy Exchange, director and Chairman Utilitas, and a director and Chairman at MapMyPlan. Mr. Ripoll provides experience and a deep understanding of the corporate sector, government and parliament to the Board.
Adrian Stewart is Head of PIMCO Australia and New Zealand. He is responsible for the overall management of the Australian business and leading a team of PIMCO professionals to deliver investment solutions and service to its institutional and global wealth management clients. He chairs the Board of PIMCO Australia Limited and brings executive experience across financial services, particularly in investment management, product development and distribution to the Allianz Retire+ Board. Prior to joining PIMCO in 2014, Mr. Stewart held a variety of senior roles at Macquarie Group, Challenger Financial Services Group and ASGARD Capital Management Ltd. He has more than 25 years of investment and financial services experience and holds an undergraduate degree from the University of New England. He has also completed the PLD at Harvard University and is a member of the AICD.
About Allianz Retire+ Powered by PIMCO
Allianz Retire+ Powered by PIMCO is a new business for the Allianz Group in Australia focused on delivering the next generation of retirement income solutions to the Australian market. Allianz Retire+ Powered by PIMCO marks the first-ever co-branded business between the two global firms and combines the scale and technical expertise of Allianz’s global life insurance business with PIMCO’s global investment management experience.
The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.448 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenue of 126 billion euros and an operating profit of 11 billion euros for the group.
PIMCO is one of the world’s premier fixed income investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today we have offices across the globe and 2,150+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.