ALIZF Allianz Ag Muenchen Namen (PK)

   By Pietro Lombardi 
 

Allianz SE (ALV.XE) said Tuesday that its asset-management unit Allianz Asset Management will become digital wealth manager Moneyfarm's lead investor and largest minority shareholder after further investment in the company.

"Allianz and Moneyfarm have a common goal to broaden the availability of digital wealth management to savers and investors in a number of markets," said Jackie Hunt, a member of the German insurer's board of management who is responsible for asset management and U.S. life insurance.

After the transaction, which is subject to regulatory approval, Allianz will have two seats on Moneyfarm's board.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

May 29, 2018 03:42 ET (07:42 GMT)

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