BUSINESS
01/21/2014 04:33 pm ET Updated Jan 25, 2014

Mohamed El-Erian To Resign From PIMCO As CEO

Bloomberg via Getty Images

FRANKFURT (Reuters) - Allianz late on Tuesday said Mohamed El-Erian, Chief Executive Officer at its asset management unit Pacific Investment Management Company (PIMCO), has resigned, but would stay on the Allianz International Executive Committee.

El-Erian will leave PIMCO mid-March as part of a leadership overhaul, Allianz said. He will also advise the Board of Management of Allianz SE on global economic and policy issues, the German insurer said.

(Reporting by Edward Taylor; Editing by Mike Collett-White)

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