Olivier Téran has been appointed chief investment officer (CIO) of Allianz Real Estate with immediate effect, replacing previous CIO Charles Pridgeon, who left the company at the start of 2015.

According to Allianz he will divide his time between Paris and Munich, where Allianz Real Estate is jointly based. Téran joined Allianz Real Estate in 2008 and was responsible for special projects. He then became global head of portfolio management and investment controlling.

He started his career at Commerz Financial Products before he joined GE where he held various positions including managing director of business development of GE Real Estate Europe.

Olivier Piani, CEO of Allianz Real Estate said: "Olivier is a longtime expert in the real estate industry. He knows the investment business and the needs of our Allianz insurance companies very well. We are pleased about his commitment to take over the important position of chief investment officer and wish him all the best for his new responsibility."