Allianz Investment personnel "quake," Wu Jiayao "jumps" to UBS, Shen Liang takes over as Chairman of Allianz Fund

The executive changes in the wholly foreign-owned public fund have been transmitted to the latest established joint venture company.

Recently, Allianz Fund announced that Wu Jiayao has resigned as Chairman of Allianz Fund for personal reasons, and General Manager Shen Liang will serve as Chairman in his place.

Wu Jiayao was not only the first Chairman of Allianz Fund but also served as the Chief Executive Officer of Allianz Investment in the Asia-Pacific region and Chairman of the Global Business Committee, representing Allianz Investment, the shareholder of Allianz Fund, as the company's Chairman.

His departure marks a significant upheaval for Allianz Investment in the Asia-Pacific region.

Departing Wu Jiayao

Wu Jiayao, who is leaving, holds a Bachelor's degree in Business Management and an MBA from Clark University in Massachusetts, USA.

He has accumulated over 20 years of experience in the financial services industry. Before joining Allianz Investment, Wu Jiayao served as a Senior Investment Product Analyst at Franklin Templeton Trust, Vice President at AsiaV-Sat, Head of Institutional Business at JP Morgan Asset Management in Asia, and Chief Executive Officer of Invesco Asset Management in Greater China.

He joined Allianz Investment in 2014, later leading retail and institutional business, and was a member of the Allianz Investment Executive Committee. He also served as Chief Executive Officer of Allianz Investment in Greater China and Southeast Asia and Director of Institutional Business in the Asia-Pacific region.

When he took office as Chairman of Allianz Fund, he was also the Chief Executive Officer of Allianz Investment in the Asia-Pacific region and Chairman of the Global Business Committee. He is also a Director of Allianz Global Investors Asia Limited and serves as a Supervisor of Allianz Huantong Management Consulting (Shanghai) Co., Ltd., Supervisor of Allianz Huantong Overseas Investment Fund Management (Shanghai) Co., Ltd., and Chairman of the Supervisory Board of Allianz Investment Asset Management (Indonesia) Co., Ltd.

Allianz Fund expressed its sincere gratitude and best wishes to Wu Jiayao in its announcement, thanking him for his significant contributions to the establishment and business development of the company.

It is reported that after his departure, Wu Jiayao will take up the position of Head of UBS Asset Management in the Asia-Pacific region in October this year. He will then reside in Hong Kong and become a member of the global management team of asset management and the management team of UBS in the Asia-Pacific region.

Successor Shen Liang

After Wu Jiayao's departure, his position as Chairman of Allianz Fund will be taken over by Shen Liang, who is also the current General Manager of Allianz Fund.

According to information, Shen Liang holds a Master's degree in Business Administration from the University of Western Ontario in Canada and is a Chartered Financial Analyst (CFA) and a Chartered Certified Accountant (ACCA).

He has served as Investment Director at Zhonghong Life Insurance Co., Ltd., Chief Executive Officer (Asia-Pacific) at Morgan Stanley Asia Limited, Deputy General Manager at Morgan Stanley Huaxin Fund, Chief Operating Officer (COO) of the Operations Department at Morgan Stanley Asia Limited in the Asia-Pacific region, Executive Director and Legal Representative of Shenzhen Century Point Gold Investment Consulting Management Co., Ltd., Vice President at Rongtong International Asset Management Co., Ltd., Head of Wealth Management Business in China at Mercer (China) Limited, General Manager of Mercer Investment Management (Shanghai) Co., Ltd., Managing Director of Allianz Global Investors Asia Limited, responsible for China Asset Management Business and Public Fund Management Business (Preparation), Director, Vice Chairman, Managing Director of Allianz Huantong Asset Management (Shanghai) Co., Ltd. (now renamed Allianz Huantong Management Consulting (Shanghai) Co., Ltd.), responsible for China Asset Management Business and Public Fund Management Business (Preparation), and Director, Vice Chairman, Managing Director of Allianz Huantong Overseas Investment Fund Management (Shanghai) Co., Ltd., responsible for China Asset Management Business and Public Fund Management Business (Preparation) Person in charge. Shen Liang has also worked at PricewaterhouseCoopers, Manulife Financial Corporation, and Manulife (International) Limited.

He joined Allianz Investment in January 2021. He currently serves as the director, general manager, and legal representative of Allianz Fund, and has also taken on the role of chairman.

Allianz Fund was established in 2023 and has launched 2 funds so far. As of mid-2025, Allianz Fund's non-monetary scale is 685 million yuan and is in the investment period.

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