Posted on Aug 04, 2010 by Sergio Ulloa
Allianz Group is set to move regional CEOs around the world, reorganizing the upper management due to the departure of Massimo Michaud, the previous Chief Executive Officer of Allianz Italia S.p.A.
The vacancy at the top of Allianz Italia will be filled by George Sartorel, who is currently the Chief Executive Officer of Allianz Turkey. Sartorel will be succeeded in Turkey by Mr. Alexander Ankel, who will be transferring from his current dual posting as both the CEO of Allianz Malaysia Berhad, the holding company for Allianz business in Malaysia, and CEO of Allianz Life Insurance Malaysia Berhad, positions he has held since 2008. Mr. Ankel has more than 16 years of experience in the insurance industry.
Jens Reisch, currently the CEO and Country Manager of Allianz's Indonesian business, PT Asuransi Allianz Life Indonesia, will step into Mr. Ankel's shoes as the CEO of Allianz Malaysia Berhad and Allianz Life Insurance Malaysia Berhad. His replacement in Indonesia has yet to be announced.
All of the aforementioned personnel transfers are dependent on the approval of the relevant regulatory authorities and supervisory boards.
In other Allianz personnel shifts not related to the global reshuffling, Dr. Abdullah Mansury has been promoted to the position of Chief Executive Officer of Allianz Takaful, taking charge of its operations in the Middle East region. Dr. Mansury has spent the last 8 years working for various Allianz subsidiaries, with his previous position at the company being the Deputy Chief Financial Officer of Allianz MENA Holding, an Allianz subsidiary based in Bahrain.
Dr. Abdullah Mansury said "Allianz has been my home since 2002 and it is a great privilege to work with family members. Within a short span of its operations, Allianz Takaful has established itself as a trustworthy company with its innovative portfolio of products and customer-focused approach. The Middle East region is one of the fastest growing markets for Allianz and I am confident that with the support of my committed colleagues and a dynamic team we can strengthen our position as a trusted financial partner of our clients."
Insurance Companies Mentioned:
Allianz Group is one of the leading global services providers in insurance and asset management. With approximately 153,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence.
A fully owned subsidiary of the Allianz Group, Allianz Takaful was established in March 2009 and is headquartered in Bahrain. Allianz Takaful is the Allianz group's first foray into the Gulf Cooperation Council or GCC, and offers Shariah-compliant products and services.