The FINANCIAL — Allianz has increased its stake in Guotai Junan Allianz Fund Management Co. Limited (GTJA-Allianz) from 33 percent to 49 percent. GTJA-Allianz was established in 2002 as the first joint-venture asset management company in China. Allianz SE’s cooperation with Guotai Junan Securities Co. Limited dates back to 1994.
Douglas Eu, Chief Executive Officer of Allianz Global Investors in the Asia-Pacific region: "This represents the latest step in our partnership with Guotai Junan Securities. The Chinese market is important to Allianz Global Investors and GTJA-Allianz is central to our strategy in China."
Xiaosong Xu new General Manager at GRJA-Allianz.
Additionally, Xiaosong Xu succeeds Chiang Hsien as the General Manager of GTJA-Allianz. A Doctor of Economics, Xiaosong Xu was previously the Deputy Head of the Shenzhen Stock Exchange Research Institute, as well as the Chief Economist and Deputy General Manager of China Southern Fund Management Company Limited. Douglas Eu: "We are very pleased that Xiaosong Xu will be guiding GTJA-Allianz to the next stage in its development." Given his valuable experience, Hsien Chiang will take up a new role with responsibility for driving Allianz Global Investors’ strategy outside of the joint venture.
Xiaosong Xu: "One of the reasons why I am excited about working with GTJA-Allianz is that the joint venture can draw on the different strengths of the two partners. Through Guotai Junan, the joint venture accesses the extensive knowledge and specialist skills that are needed in the mainland’s capital markets. Thanks to Allianz SE, we have world class management and stringent risk control systems. We are in a position to build on the foundation of the company, established on the hard work of Chiang Hsien and his team over the past seven years."
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