It's just a syllable of the whole name, which is a German surname in a certain old dialect. And its pronunciation has been mangled after 150 in a country that can't pronounce it properly, so it's a mess all around.

I ask because usually hu is two sounds, so it would be transliterated as two letters. If you mean it used to be hü, then yes, you'd lose the umlauts in the transliteration, and it would just become "χου", with a hard h, not an aspirated one.