Joachim Faber, CEO of Allianz Global Investors, is planning to retire from his current role by the end of 2011, Citywire reports. He has been serving the firm since 2000 and was responsible for its worldwide asset management business. Faber will be replaced by, Jay Ralph, who is presently responsible for the firm’s presence in the North American Free Trade Agreement (NAFTA) region. Ralph will become COO of Allianz after Marna Whittington will step down on March 31, 2011 to assume the role of CEO of the firm’s U.S. arm, Allianz Global Investors Capital.
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