Tobias C. Pross and Deborah Zurkow will assume the roles of CEO and global head of investments of Allianz Global Investors, respectively, on Jan. 1, following the retirement of Andreas Utermann.
Mr. Utermann serves in both roles now, confirmed Petra Brandes, an Allianz spokeswoman. He will remain with Allianz Global Investors as an adviser to the firm through the first half of 2020, Ms. Brandes said.
Mr. Pross currently is global head of distribution, and Ms. Zurkow is global head of alternatives. The firm has yet to decide who will replace Mr. Pross and Ms. Zurkow in their current positions, Ms. Brandes said.
In a LinkedIn post Monday, Mr. Utermann said he is leaving the firm to spend more time with his family, adding: "This brings to a natural conclusion my long journey with Allianz since joining in 2002. Leading an integrated AllianzGI for the past 8 years — first as co-head and Global CIO and since 2016 as CEO — has been an honour."
Allianz Group's investment subsidiaries Pacific Investment Management Co. and Allianz Global Investors manage a total of €1.6 trillion ($1.8 trillion) in third-party assets. Allianz Group manages €746 billion for Allianz Global Investors and Allianz Global Investors manage a total of €1.6 trillion ($1.8 trillion) in third-party assets. Allianz Group manages €746 billion for insurance customers.