Allianz Life Insurance Company of North America has promoted Todd Hedtke to senior vice president and chief investment officer for Allianz Investment Management (AIM) US.

In his new role, Hedtke will lead the AIM investment leadership team and join the company’s Executive Leadership Group, reporting directly to Allianz Life President and CEO Walter White. Hedtke succeeds Carsten Quitter, who will join Allianz S.p.A. in Italy as chief investment officer.

"Todd has been an excellent leader and strategic thinker throughout his tenure at Allianz Life," said White.

"I’m confident his financial expertise and understanding of global markets will continue to provide valuable investment leadership, and ensure the strong, reliable performance necessary to deliver on our long-term promises."

As chief investment officer, Hedtke is responsible for investment management, liquidity planning, hedging, and trading of more than $100 billion of insurance assets for Allianz Life Insurance Company of North America, Allianz Global Corporate & Specialty and San Francisco Reinsurance.

He is also a member of the global Allianz Investment Management Board, which services the Allianz Group insurance companies.

Hedtke has been with Allianz Life for more than 15 years. Before this promotion, he led the General Account Investment Management function within the AIM division, delivering strong investment portfolio results. Hedtke also participated in AIM global expert teams and strategic projects.

Before coming to Allianz Life, Hedtke held various investment and finance positions at Cargill, EBF & Associates, and American Express Financial Advisors.

He has a BA in Management from Hamline University and an MBA from the University of Minnesota. He holds the chartered financial analyst (CFA), financial risk manager, and FLMI designations.

Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2015, has been keeping its promises since 1896.