Allianz Global Investors (AllianzGI) in Switzerland is currently going from strength to strength. At the beginning of July, it announced its entry into the local multi-asset business. The international asset manager hired René Küffer (Head), Fabio Fulgieri and Eric Güller, a trio with extensive experience in this area from Credit Suisse.

And now the news that Patrik Schuler is also turning his back on Credit Suisse's successor organization UBS Asset Management and moving to Allianz GI at Stadelhofen in Zurich, as finews.com (link to article to follow) exclusively reported.

Managing Around 12 Billion Swiss Francs in Switzerland

This demonstrates that AllianzGI is serious about its asset management plans in Switzerland. «We are still somewhat underestimated here», says Michael Schütze.

Schütze has been with AllianzGI for 33 years, has worked in Zurich for five years, and has been responsible for the Swiss business as Country Head Switzerland for a year. The company, part of the Allianz insurance group, manages assets for private and institutional investors as well as Allianz itself. The total assets under management (AuM) amount to 533 billion euros, with about 23 billion euros for Swiss clients.

No Deals at Any Cost

Having such a brand backing them, says Schütze, is an undeniable advantage. However, Schütze, who expanded the company’s market-leading role among German corporate clients as Head of Business Development Corporates and Pension Solutions Germany, knows this is not an automatic success. It is essential to understand the markets in which one operates well. This is what Schütze means when he says, «We can also speak Swiss German, French, and Italian.»

Sometimes this means showing patience. «We are not the type to push for deals at any cost», he says. Such an aggressive approach would be counterproductive and have consequences for the German asset manager. Instead, AllianzGI aims for long-term partnerships.

«We Are Having Fun. We Want to Keep Growing»

The business has developed well in Switzerland. But according to Schütze, there is more potential, especially with pension funds. «With our offerings in private markets and wholesale, we have the 4x4 for this terrain», he says.

With the expansion, AllianzGI’s staff in Switzerland has grown to 20 people. This may not be the end. Michael Schütze says, «We are having fun. We want to keep growing.»