Pioneer Investments' chief executive officer Sandro Pierri will be stepping down at the end of January after two and a half years as chief executive officer.
His deputy, Giordano Lombardo, who also holds the role of group chief investment officer, will be taking over.
Pierri replaced Roger Yates in 2012, but has been with the asset manager for the last 11 years.
Federico Ghizzoni, chief executive officer of UniCredit, which owns Pioneer Investments, says: "Pioneer produced excellent investment results and robust net inflows owing to Sandro's strategic focus and disciplined execution."
He adds: "I am fully confident that Giordano and the rest of Pioneer's management team will continue to effectively manage the business and support Pioneer's clients and associates around the world. They have my full support."
Pioneer Investments had €197 billion in assets under management at the end of October.
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