Allianz Real Estate / PIMCO Merger - Layoffs?
Allianz just announced the plan to merge its business units Allianz RE and PIMCO, which so far have been operating independently. Both units each operate very profitably at the moment and serve different RE business areas (Allianz: core/value-add, PIMCO: opportunistic) but of course they have completely different cultures and some overlapping functions. Also „merger“ might be the wrong word because Allianz RE is said to be integrated into PIMCO.
Do you think it is a good idea to apply for Allianz RE at this point or would you wait until the restructuring is done? Do you think some functions like transactions, risk management will ne hit worse than others like fund management?
This quote alone says something?
“When we match the Allianz Real Estate global footprint and the Allianz appetite for real estate with the unparalleled access to the PIMCO intellect, research, analytics, focus on performance and of course global distribution capabilities we are destined to become one of the world’s most well rounded real estate specialists and alternatives experts.”
It depends on your aspiration. Layoffs will most likely be in the back-office as synergies will be found / outsourced in operations, think accounting, reporting, IT.
Allianz Real Estate is growing the brand to expand in to the third-party business to compete with the other big boys as the real estate game is changing from one-off deal flows to pure volume.
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