Allianz CEO Steps Down

Less than a week after Bill Gross left Pacific Investment Management Co., the asset manager’s German parent company, Allianz SE, said its chief executive, Michael Diekmann, will also step down in May, the Wall Street Journal reports. Investors withdrew a net $23.5 billion from Pimco’s Total Return fund during September, and Pimco said Wednesday that most of it took place on the day that Gross resigned.