Allianz Restructures AGCS North America Team as Part of New Profit Plan

July 13, 2020

As Allianz Global Corporate & Specialty SE (AGCS) executes its plan to regain profitability in the corporate and specialty insurance segment, it is adopting a more simplified regional organization in North America. The company announced several U.S. and Canada appointments as part of this larger restructuring.

The profitability transformation plan program, which is called “New AGCS,” has prompted several leadership appointments, including Joachim Mueller, who became AGCS CEO in December 2019.

William Scaldaferri, AGCS North America CEO, said this new round of appointments is part of the streamlining of the organization to “enhance distribution, product solutions and service” for North American clients.

The appointments include:

Max Nussbaumer has been appointed senior vice president for Operations, North America, reporting directly to AGCS Chief Operating Officer Bettina Dietsche. In this new role, Nussbaumer will be responsible for implementing global operating priorities in the region, while also addressing regional needs. As a first priority, he will focus on digitalization across North America and compatibility with AGCS’s global IT model. Since 2010, he served as managing partner and founder of his own Chicago-based management consultancy firm, focused on the financial services industry, digital innovation and compliance management projects both in the U.S. and Europe. He has also served on the board of early stage investment firm, plenigo. He previously worked for various Allianz companies as a consultant.

Joe Caruso will be promoted to regional head of Financial Lines. Caruso, who was formerly regional head of Financial Institutions, will transition into this role effective September 1 and will continue to develop AGCS’s portfolio both in the U.S. and Canada which includes Cyber, Directors & Officers and Professional Indemnity products. He first joined Allianz in 20915, after nearly 15 years at AIG.

Allianz Global Corporate & Specialty Restructures to ‘Regain Profitability’

Paul Schiavone, formerly regional head of Financial Lines, has been promoted to a newly created global role – global industry solution director for Financial Institutions. Schiavone will be responsible for driving results across all lines of business in this target sector. Prior to joining Allianz in 2015, he was with Zurich Insurance, AmWINS and AIG.

Rani Christie, who has served as head of Sales and as South and Northeast zone executive, is taking on the newly-created role of regional head of Distribution. In addition to AGCS business development efforts, Christie will also be responsible for marketing and sales operations to ensure broker and client needs align with global distribution. He will also continue to support the AGCS sales academy initiatives.

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