Jacqueline Hunt, head of asset management at Allianz SE and Allianz Life in the U.S., is resigning from her day-to-day responsibilities at the firm, the company said in a news release Thursday.
Effective Oct. 1, she will be replaced by Andreas Wimmer, CEO of Allianz Lebensversicherungs, who will also assume her role on the board. Going forward, Ms. Hunt will serve as a strategic consultant to Group Chief Executive Oliver Bäte.
Ms. Hunt has led Allianz's asset management and U.S. life businesses since she joined the group in July 2016.
"I was proud to be just the second woman on the Management Board of Allianz SE when I joined in 2016," Ms. Hunt said in the release. "When I leave Allianz next year, excited about my next chapter, it will be with considerable pride in what we have achieved. I will always have fond memories of my time at Allianz."
This move follows the U.S. Justice Department opening a probe into its Structured Alpha Funds, which are at the center of lawsuits in the wake of steep losses during the pandemic.
Allianz has more than €2.5 trillion ($2.9 trillion) in assets under management.