Allianz Australia Life Insurance has appointed Allianz Retire Plus founder Adrian Stewart as acting chief executive, as Matt Rady will leave the business.
Stewart would assume responsibilities for Allianz Australia Life Insurance and Allianz Retire Plus, the latter he served as board member for since 2018.
Stewart was formerly head of client management, APAC ex-Japan for PIMCO and before that, head of Australia and New Zealand for the firm.
David Plumb, Allianz Australia Life Insurance chair, said Rady left having built a solid platform for the company and they wished him every success in the future.
“In appointing Adrian as acting CEO, the board is instilling a proven leader with a deep understanding of the worldwide capabilities of the Allianz Group in retirement income and life protection solutions,” Plumb said.
“Adrian’s strong track record in growing client-focused financial services businesses in the Australian market keenly positions us for significant growth.”
Before Stewart joined PIMCO in 2014, Adrian held various senior roles at Macquarie Group, Challenger Financial Services Group and ASGARD Capital Management.
“The unique capabilities across this business deploying the global resources of Allianz are unrivalled and present a significant opportunity in meeting the long-term retirement income and life protection needs of Australians,” Stewart said.
“Since launch, the team has built a strong market presence and established key distribution channels.
“Our focus will be to continue this momentum, ensuring we offer our partners a broad suite of innovative and market-leading products.
“I look forward to working with the team to deliver on our strategic objective of expediting our product development capabilities and deepening our client partnerships across the institutional and wealth management channels.”