Allianz has shuffled the corporate decks in its Global Corporate and Speciality (GCS) division, announcing Holger Schaefer as the new head of its Australian operations.

Mr Schaefer, currently based in London as the Global Head of Market Management, replaces Stefan Feldmann, who has “left Allianz to pursue other opportunities”.

Based in Sydney, Mr Schaefer will be responsible for a team of 39 staff focusing on major corporate and industrial business.