Allianz Global Investors (AllianzGI) head of Asia Pacific Desmond Ng is set to leave the firm, according to an internal memo seen by FSA.
Ng joined AllianzGI in 2014, leading the firm’s retail and institutional business in the Apac region. He also served on the firm’s global executive committee.
The departure comes less than a week after AllianzGI reshuffled its leadership positions after Deborah Zurkow, global head of investments, announced her retirement.
AllianzGI has made looking for a replacement a “priority” while current chief executive officer Tobias Pross serves as interim head of Apac on a temporary basis, according to the memo.
Pross currently chairs the firm’s global executive committee.
A spokesperson from the firm confirmed the departure of Ng and reiterated that Tobias Pross will continue to have a presence in Asia Pacific.
“Following a successful buildout over many years, AllianzGI has a strong, stable business in Asia Pacific, managing over EUR 100bn ($113bn) of assets for clients in the region, and continues to see many attractive growth opportunities in the region,” the spokesperson said.
Before joining AllianzGI, Ng was the CEO for Greater China at Invesco, and held senior positions at JP Morgan Asset Management.
