AllianzGI hires China chief for strategic buildout

Allianz Global Investors has created a new post to oversee the buildout of its fund management business in China and hired former Mercer executive Leo Shen to fill it, AsianInvestor can reveal. The fund house, part of German insurance giant Allianz, has also named Wang Zheng as its new head of multi-asset for China in Shanghai. He replaces Ray Zeng, who left in November after two-and-a-half years with the firm. Wang joined from Korean firm Mirae Asset’s Shanghai operation, where…