Douglas Eu, U.S. CEO at Allianz Global Investors, will leave the firm at the end of the month, a spokeswoman confirmed.
The firm has also restructured its global fixed-income business.
Mr. Eu has decided to return to Asia after 14 years at AllianzGI. He made the decision in the first quarter, the spokeswoman said.
"After building out AllianzGI's business in Asia-Pacific and further diversifying its capabilities in the U.S., Doug's impact has been incredibly valuable," a statement said. "The strategic trajectory of the U.S. business remains intact and on course for further globalization and growth."
Malie Conway a managing director, will take on part of Mr. Eu's responsibilities as head of U.S. distribution, relocating to the U.S. from London. She will report to Tobias C. Pross, CEO of AllianzGI.
There will no longer be a U.S. CEO role, the spokeswoman added.
AllianzGI has also restructured its €193 billion ($214.3 billion) global fixed-income business into "five pillars of investment expertise," effective today, a news release said.
Ms. Conway was CIO global fixed income. Franck Dixmier replaces Ms. Conway and leads the new structure. He has led the global fixed-income business for the past five years as global head of fixed income and "assumes a more involved role in the oversight of investment processes," the news release said.
Management of global fixed-income assets will be grouped as core fixed income, led by Julian Le Beron, CIO core fixed income; credit, led by Vincent Marioni, CIO credit EU; Asian and emerging markets, led by David Tan, CIO fixed-income Asia Pacific and Richard House, CIO emerging markets debt; insurance and LDI, led by David Gillard, CIO insurance and LDI; and advanced fixed income, led by Maxence Mormede, CIO advanced fixed income.
As part of the changes, Mike Riddell was named head of the newly formed macro unconstrained group, which is part of the core fixed-income unit.
"There will be a modest number of personnel changes, but this evolution is not being driven by headcount considerations," the spokeswoman said in an email. "Rather it is being driven by the desire to ensure we have the most compelling and coherent fixed-income offering."
Mr. Dixmier said in the news release: "This globally integrated setup is a natural progression for our teams that have already been working alongside each other as we have steadily built out our fixed-income capabilities."