The four departing portfolio managers, who are part of the firm's 12-member global growth team, are Robert Hofmann, Marcus Morris-Eyton, Darina Valkova and Nicolas Goncalves.
In light of the exits, Allianz GI has appointed Christian Schneider, current deputy global growth CIO and lead portfolio manager of the firm's flagship Global Equity Unconstrained strategy, to lead the team with immediate effect.
The asset manager will also replace some of the departed managers with two portfolio managers, Julian Bishop and James Ashworth, who both joined in November 2022. The firm said it will "continue to strengthen" the team.
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Winkelmann became the sole head of the global growth team in 2017, after Matthias Born and Martin Hermann left the firm. He has worked at Allianz GI for over 22 years, joining the firm as a portfolio manager in September 2001.
The departures have also triggered a raft of changes in portfolio management positions, according to a report by Morningstar, as the firm has placed some of the strategies managed by the team under review on the back of the exits.
On Allianz Continental European, lead manager Morris-Eyton has been replaced by co-lead managers Giovanni Trombello and Julian Bishop, while deputy manager Valkova will be succeeded by Andreas Hildebrand.
Meanwhile, lead manager Hildebrand will be supported by co-manager Trombello on Allianz Euroland Equity Growth, and Valkova will not be replaced in her capacity as deputy manager.
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Allianz Europe Equity Growth has lost Winkelmann and Hofmann as co-lead managers and Morris Eyton as deputy-manager, with their responsibilities absorbed by Hildebrand and Trombello, while Schneider and James Ashworth will act as deputy managers.
Trombello will remain at the helm on Allianz Europe Equity Growth Select, but Winkelmann will be succeeded by Hildebrand, who previously was the deputy manager on the strategy, a role that has been taken over by Schneider.
Finally, Allianz Global Equity Growth will be managed by Schneider and Tobias Kohls, with Hildebrand maintaining his deputy responsibilities.
Ronald van Genderen, the author of the Morningstar report, said that Winkelmann's departure and that of four of his team members was a "massive loss".
"While the remaining team still consists of several seasoned members, including two experienced joiners, it is unlikely that they will bring the same level of investment acumen right away."