Joachim Faber
Joachim Faber ( born May 10, 1950 in Gießen) is Chairman of the German Stock Exchange and former CEO of Allianz Asset Management.
Life
Joachim Faber studied law at the Rheinische Friedrich- Wilhelms-Universität Bonn. He then earned his Dr. rer. publ. at the University of Administrative Sciences in Speyer with a research stay at the Sorbonne in Paris. From 1984 to 1997 he worked in various positions at Citicorp in Frankfurt and London, since 1994, he headed the capital markets business of Citicorp in Europe, North America and Japan. After joining the alliance in 1997, he was initially CFO of Allianz Insurance AG. In 2000 he took over as CEO of Allianz Asset Management Ltd. and moved to the Executive Board of Allianz SE. He became in 2009 a member of the Supervisory Board of Deutsche Börse, since May 2012, he is the successor of Manfred Gentz Chairman.
Under his leadership, assets under management of the company founded in 1998 as Allianz Asset Management in late 2010 grew from 23 billion euros to around 1,500 billion euros. The end of 2010, Allianz Global Investors was thus by BlackRock with 2.654 billion euros and above State Street with 1.491 billion euros the second largest asset managers in the world. With 2.1 billion euros, the area accounted for close to a quarter of the operating profit of Allianz SE. Reason for the strong growth were the acquisitions of U.S. bond fund manager PIMCO, as well as Rosenberg Capital Management ( RCM), one of the largest equity manager in the world. The purchase of PIMCO was seen in late 1999 by analysts and media representatives very critical because at this time the equity markets reached record highs and was offered with 3.3 billion U.S. dollars for the pension fund manager 's second- highest price ever been paid for the acquisition of an investment bank is.
Joachim Faber since 2011 Chairman of the Shareholders' Committee of Joh A. Benckiser SARL, Luxembourg, Member of the Board of HSBC Holding, London, Member of the Supervisory Board of Osram light AG and Member of the Board of Coty Inc., New York. He is a member of the Government Commission German Corporate Governance Code, the Supervisory Board of ESMT European School of Management and Technology in Berlin, and Member of the Board of the German Cancer Aid.