Allianz Global Investors (AllianzGI) has named Tobias Pross as the new CEO, replacing Andreas Utermann who has been at the helm since 2016.

At present, Pross serves as the global head of distribution at AllianzGI. He was appointed in this role in 2018.

He has been working at the Allianz Group for more than two decades and is a part of the global executive committee of AllianzGI since 2015.

For the first half of next year, Utermann will serve as an adviser to the firm.

Part of the firm since 2002, Utermann supervised the development of the Fixed Income and Alternatives platforms and enhanced its sustainable investing capabilities.

He currently also serves as the firm’s global head of investments, a role that will be handed over to Deborah Zurkow.

Zurkow, currently the global head of Alternatives, has led the firm’s infrastructure debt platform since 2012. She also sits on its global executive committee.

Both Pross and Zurkow will assume their new responsibilities in January next year. Their replacements have not been named.

In May this year, AllianzGI hired Barbara Rupf Bee as its new Europe, Middle East & Africa (EMEA) head and a member of its global executive committee.

Bee joined from UBS, where she led the wealth management unit in Germany.