UK/GERMANY- Allianz Dresdner Asset Management (ADAM) has announced the appointment of Neil Dwane as head of its equity investment teams in Frankfurt and London. Dwane is relocating to Frankfurt where he replaces Jens Wilhelm who is leaving for a hedge fund group.

ADAM is Allianz’s asset management business which includes Dresdner RCM Global Investors and the US fixed income manager PIMCO. The new group will be complemented by the US investment managers Nicholas Applegate, Oppenheimer Capital and PEA.

As part of the new role, Dwane will run Dresdner’s DIT retail fund group as well as the Dresdner RCM funds. The move follows the integration of the research and fund management teams in London and Frankfurt.

Says Dwane: “with e59bn under management in European equities, this is a core area of expertise for the group. Our integrated pan-European investment approach will enable us to take full advantage of the strong growth we expect to see in this asset class over the next decade.”

Scott Mather is PIMCO’s head of fixed income in Germany and will be responsible for German institutional and retail portfolios. Emanuele Ravano is head of portfolio management for PIMCO’s London office which will focus on UK and European fixed income.

ADAM has combined assets of £650bn in assets under management and is led by global CEO Joachim Faber who says the aim is to create a top five global asset management business.