AllianzGI removes Asia multi-asset CIO

Allianz Global Investors has laid off its Asia Pacific chief investment officer for multi-asset as part of a decision to do away with regional CIOs for the multi-asset division. Stefan Nixel, who had worked at the German firm for some 14 years, left on April 6, as the dire economic implications of the Covid-19 outbreak were becoming increasingly clear. The removal of a management layer has also resulted in the recent departure of Nixel's US counterpart, Giorgio Carlino. Ste…