German insurer Allianz SE (ALV.XE) said Thursday its Chief Financial Officer Oliver Baete will swap board responsibilities with Dieter Wemmer as of Jan. 1.

MAIN FACTS:

-Mr. Baete will take over responsibility for western and southern Europe operations, while Mr. Wemmer will become chief financial officer.

-Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com

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