Karl Happe is a portfolio manager with Allianz Global Investors, which he joined in 2013. As CIO Insurance Related Strategies, he leads a team that manages more than EUR 110bn in equity and fixed-income portfolios for Allianz and other insurers. Mr. Happe was previously the head of the global fixed-income strategy team, responsible for managing approximately EUR 400bn in global fixed-income portfolios for Allianz. He has 18 years of investment experience. He has a B.S.E. in Civil Engineering and Operations Research from Princeton University, and studied at the University of Stuttgart on a Fulbright scholarship.