Allianz finance chief to step down

Allianz SE’s finance chief Helmut Perlet said today that he will retire from the Munich-based insurance giant. He will step down from his post on Aug. 31, 2009. In his place, Oliver Baete, a member of the management board and chief operating officer of Allianz, will take the helm as of Sept. 1, 2009. The company also announced the resignation of Herbert Walter from Allianz’s management board. As Dresdner Bank AG, a subsidiary of Allianz, prepares for its sale to Commerzbank AG, Mr. Walter, Dresdner’s chief executive, will migrate to Commerzbank’s management board. Both banks are based in Frankfurt, Germany.