Fund manager Allianz Global Investors has promoted James Dilworth, head of the firm's work in Germany, to the role of chief executive officer for Europe. He replaces Elizabeth Corley, who is becoming global chief executive of Allianze. In his new role, Dilworth will become a member of the firm's global executive committee, which oversees Allianze's business around the world, and continue to be responsible for European, the Middle East and North African sales.