German asset manager Allianz Global Investors has promoted Michael Krautzberger as CIO for public markets and appointed him a member of the firm’s executive committee.
Krautzberger, currently global CIO for fixed income, will take on his additional responsibilities for the firm’s €475bn public markets platform from 1 June.
The appointment is part of the succession plan for Deborah Zurkow, global head of investments, who will retire later this year .
Jenny Zeng, currently CIO for fixed income in Asia Pacific, will become CIO for fixed income from January 2026. As part of a transition plan, Zeng will take on the additional role of deputy head of the fixed income platform with immediate effect.
Meanwhile, Michael Heldmann will become CIO for equities from October, succeeding Virginie Maisonneuve who has decided to leave AllianzGI at the end of December 2025.
As part of a long-term succession plan, Heldmann, will become deputy CIO for equities with immediate effect.
Tobias Pross, CEO of AllianzGI, said: “Today’s succession appointments underscore one of Allianz Global Investors’ core strengths: it is an attractive home for investment talent.
“As pleasing as it is to hire great investors, it is even more rewarding to see them flourish and grow.
Michael Krautzberger, Jenny Zeng and Michael Heldmann have each developed impressive reputations in cultivating teamwork, managing clients’ money and representing their investment ideas and processes to our clients across the world.”
Krautzberger joined the firm in 2024 from BlackRock, where he worked for 19 years, most recently as Head of EMEA Fundamental Fixed Income.
Previously, he was CIO and member of the executive board of BlackRock Asset Management Deutschland AG. He also held senior positions at Union Investment.
Zeng has close to 20 years of experience in fixed income and joined AllianzGI in January 2023 as CIO Fixed Income Asia Pacific with overall responsibility for the firm’s fixed income investments in the region.
Heldmann has been with AllianzGI since 2007. Prior to becoming CIO of the entire systematic equity platform, he was CIO for systematic equity in the US and based in San Francisco.
Before joining AllianzGI, he worked for the international laboratory CERN, Geneva, Switzerland as a researcher in the field of particle physics.
AllianzGI manages around €475bn of assets in its public markets business, with €175bn in fixed income, €63bn in multi-asset and €136bn in equities.
The Munich-based firm currently manages €98bn in private markets. It was separately been confirmed this week that Edouard Jozan will become business head of AllianzGI Private Markets.
