Joachim Faber (born 10 May 1950 in

Gießen Giessen, spelled Gießen in German (), is a town in the German state (''Bundesland'') of Hesse, capital of both the district of Giessen and the administrative region of Giessen. The population is approximately 90,000, with roughly 37,000 univers ...

) is a German lawyer and business executive.

Education

Educated at the

University of Bonn The Rhenish Friedrich Wilhelm University of Bonn (german: Rheinische Friedrich-Wilhelms-Universität Bonn) is a public research university located in Bonn, North Rhine-Westphalia, Germany. It was founded in its present form as the ( en, Rhine U ...

, Faber earned his

doctorate A doctorate (from Latin ''docere'', "to teach"), doctor's degree (from Latin ''doctor'', "teacher"), or doctoral degree is an academic degree awarded by universities and some other educational institutions, derived from the ancient formalism ''l ...

at the German University of Administrative Sciences in 1982.

Career

Faber worked for 14 years in various positions for

Citicorp Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking ...

Frankfurt Frankfurt, officially Frankfurt am Main (; Hessian: , "Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on its na ...

and

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

. He then joined

Allianz Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. The ...

in 1997, serving as the founding

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

Allianz Global Investors Allianz Global Investors (commonly called AllianzGI or AGI), is a global investment management firm with offices in over 20 locations worldwide. It is owned by the global financial services group Allianz. Employing nearly 3,000, it manages over ...

for 12 years from 2000, during which period he built it into one of the world’s biggest asset managers, with around 1.5 trillion euros ($2 trillion) under management, by the time he retired in December 2011. During his time at the helm, he guided the unit through a number of major acquisitions, including

PIMCO PIMCO (Pacific Investment Management Company, LLC) is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities, commodities, asset ...

, which managed the world’s biggest bond fund at the time. Faber has been serving as Chairman of the Supervisory Board of German Stock Exchange Group since May 2012, succeeding Manfred Gentz. By 2017, he was criticized by investors for the failed 2016 merger with the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

and a compensation program awarded to Carsten Kengeter who resigned as chief executive in October 2017. Under his leadership, the supervisory board introduced a cap on the annual pay packages of its board members at 9.5 million euros ($11.3 million) each. In 2019, he announced his intention to resign by 2020. In Munich, Faber shares an office with

Ann-Kristin Achleitner Ann-Kristin Achleitner ( Koberg) is a German economist, currently a professor at Technical University of Munich. Career Before taking on her current position, Achleitner held an Endowed Chair for Banking and Finance at EBS University of Busin ...

Paul Achleitner Paul M. Achleitner (born 28 September 1956, in Linz) is an Austrian businessman who served as chairman of the supervisory board of Deutsche Bank from 2012 to 2022. Education Achleitner studied Business Administration, Economics, Law and Social Sc ...

Michael Diekmann Michael Diekmann (born December 23, 1954) is a German manager who served as the CEO of Allianz in between 2003 and 2015. Early life and education Diekmann knew early that the family construction business would go to his twin brother, who was mo ...

and

Peter Löscher Peter Löscher (born 17 September 1957 in Villach, Austria) is an Austrian manager who was the CEO of Siemens from 2007 until 2013. As of 2017, Löscher remains as the only CEO to be hired from outside the conglomerate in the 170-year history o ...

Palais Preysing The Palais Preysing is a late- Baroque mansion in Munich, southern Germany, which served as residence for the Counts of Preysing. To distinguish it from the nearby Palais Neuhaus-Preysing, it is also called the ''Elder Palais Preysing''. Joseph ...

Other activities

Corporate boards

* HQ Capital, Member of the Supervisory Board (since 2019) *

Investcorp Investcorp is a global manager of alternative investment products, for private and institutional clients. Founded in Bahrain in 1982, the firm has offices in United States, United Kingdom, Saudi Arabia, Qatar, United Arab Emirates, India, China, ...

, Member of the Board of Directors (since 2019) *

HSBC HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...

, Non-Executive Director (since 2012), Chairman of the Risk Committee (since 2013) * HSBC Trinkaus & Burkhardt, Member of the Advisory Board * Coty, Member of the Board of Directors (since 2010) *

JAB Holding Company JAB Holding Company ("JAB" or Joh. A. Benckiser) is a German conglomerate, headquartered in Luxembourg, that includes investments in companies operating in the areas of consumer goods, forestry, coffee, luxury fashion, animal health, and fast foo ...

, Chairman of the Shareholder Committee *

Osram Osram Licht AG is a German company that makes electric lights, headquartered in Munich and Premstätten (Austria). Osram positions itself as a high-tech photonics company that is increasingly focusing on sensor technology, visualization and tre ...

, Member of the Supervisory Board (2013-2014)

Non-profit organizations

* Wittelsbacher Ausgleichsfonds (WAF), Member of the Supervisory Board *

German Cancer Aid The German Cancer Aid (german: links=yes, Deutsche Krebshilfe) is a not-for-profit organization to fight cancer in all its forms. The institution was founded on September 25, 1974 by Dr. Mildred Scheel (1932–1985). She was the wife of Walter ...

, Member of the Board (since 2015) *

European School of Management and Technology The European School of Management and Technology, also known as ESMT Berlin, is a private non-profit business school based in Berlin, Germany. The business school was founded in 2002 by 25 global companies and institutions including McKinsey & Co ...

(ESMT), Member of the Supervisory BoardSupervisory Board

(ESMT). *

World Economic Forum The World Economic Forum (WEF) is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab. The foundation, ...

(WEF), Chair of the Global Agenda Council on Insurance (2011-2012) * German Council for Sustainable Development (RNE), former Member (appointed ad personam by the

Chancellor Chancellor ( la, cancellarius) is a title of various official positions in the governments of many nations. The original chancellors were the of Roman courts of justice—ushers, who sat at the or lattice work screens of a basilica or law cou ...

)

References

{{DEFAULTSORT:Faber, Joachim 1950 births Living people German chief executives German corporate directors HSBC people