Irshaad Ahmad was named head of institutional Europe at Allianz Global Investors, effective Jan. 1, said a spokesman.
Mr. Ahmad replaces Tobias C. Pross, who held that role until October 2014 when he became head of European distribution, and subsequently became head of Europe, the Middle East and Africa in June. In the intervening months, Mr. Pross has effectively continued to hold responsibility for the head of institutional Europe role, said the spokesman.
Mr. Ahmad will report to Mr. Pross, and will chair the European institutional executive committee. He will also become a member of the European executive committee.
Mr. Ahmad will be based in London, and will assume business development and client servicing responsibility for all institutional clients in Europe. He will also lead the company’s strategy to further develop institutional business in key regional markets.
“I am delighted that, in (Mr. Admad,) we have found a senior executive who combines extensive experience with a strong entrepreneurial mindset,” said Mr. Pross in a news release.
AllianzGI has €427 billion ($452 billion) in assets under management.
Mr. Ahmad was previously head of U.K. for AXA Investment Managers. The firm has decided to split the head of U.K. role into two, resulting in a head of U.K., and head of U.K. client group, according to a statement provided by a spokeswoman for AXA.
Subject to regulatory approval, the firm appointed Philippe Le Barrois d’Orgeval, currently chief risk officer, as head of U.K. He will take on the role in January, and be responsible for the development of AXA IM in the U.K. He will report to Joseph Pinto, global chief operating officer.
Also, Tim Gardener, global head of consultant relations, will lead the U.K. client group until a permanent replacement is made.