The firm has also appointed prominent behavioural finance expert Professor Shlomo Benartzi, of the UCLA Anderson School of Management at the University of California, to serve as the hub's chief behavioural economist.
Benartzi will help to spearhead the initiative alongside senior executives at Allianz Global Investors.
The centre will focus on three areas - behavioural finance research and education, investing and risk management, and retirement and post-retirement products and solutions.
The hub will also play a role in helping promote dialogue among business, government and academia on financial issues of primary importance to the future of the United States and other countries.
"The behavioural finance toolbox has proven to be an effective mechanism for understanding how individuals make financial decisions," Benartzi said.
"Applying the insights from behavioural finance is critical to designing better financial solutions for investors and I am delighted that Allianz Global Investors has made such a strong commitment to this field of study."