Pimco is facing a lot of turmoil with a heavy outflow investors and key executives, including its founder.

Financial Times has reported citing a top executive at Allianz, a German insurer that the company wants closer ties with Pimco, a U.S. based asset management concern.

Jackie hunt, Allianz’s new asset management chief was quoted by FT as saying Europe’s biggest insurer saw a need for closer ties with Pimco.

“You’ll see Allianz being more involved in the asset management businesses than in the past,” told Hunt to the Financial Times.

Earlier this month, Hunt took on her new mantle at Allianz. She oversees asset managers at Allianz Global Investors and Allianz’s life insurance business in the U.S.

Last week’s appointment of Manny Roman as Pimco’s new chief executive saw a significant outflow of investors and key executives, including its founder, Bill Gross.

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