WestLB has hired Maurice Wren, equity sales director for the City and Channel Islands at Allianz Global Investors, as a director responsible for retail distribution. Wren will start in his new role at the end of the quarter. At Allianz, he reports to Nick Smith, head of retail sales and marketing. Smith could not be reached by press time.
Wren noted although he will be changing from long-only equity sales to marketing derivative-based investment products, the client contacts he has built up at Allianz will also be useful to WestLB. When he joins, he will report to Thorsten Wegener, head of equity market sales. The German firm made its debut in the U.K. retail market at the end of 2004 (DW, 12/10/04) and has been building up its business over the last year.
