Allianz Global Investors is governed by Allianz Asset Management as a holding company, and comprises a number of entities which mirror the target markets of Allianz Group's asset management division. The business of Allianz Global Investors can be subdivided into three regional holding companies. These three regional holding companies - Allianz Asset Management of America Holdings Inc., Allianz Global Investors Europe Holding GmbH and Allianz Global Investors Asia Pacific GmbH - integrate local distribution platforms within their region.