The former head of emerging market debt sustainable investing at the world’s largest asset manager, BlackRock has joined rival Allianz Global Investors.
Giulia Pellegrini has joined Allianz GI as a senior portfolio manager in the EMD team.
Pellegrini, who will report to Allianz’ CIO of EMD Richard House, will be responsible for strengthening the asset manager’s existing ESG capabilities, overseeing country specific research and helping to manage a number of EMD funds.
Pellegrini is recognised as playing a key role in shaping BlackRock’s EMD offering, including the launch of 4 Sustainable EMD Funds.
She has also held positions at the World Bank and J.P. Morgan.
House said the new appointment comes at a crucial time, with ESG factors playing an increasing part in the emerging markets sector.
“Last year was marked by a large disparity in asset price performance across emerging markets. A handful of countries witnessed social unrest that can be traced back to underlying social and/or governance factors.
“Environmental issues have rightly become a significant consideration for both asset owners and investors. We believe integrating ESG factors into an active EMD investment process is not only key in helping to generate alpha but also in ultimately having an impact in forcing positive change,” House said.
Last year, Allianz launched two new fixed income funds, the Allianz Emerging Markets SRI Corporate Bond funds and Allianz Emerging Markets SRI Bond, both managed by House.