Pimco names four more deputy CIOs in wake of El-Erian's departure

Bond powerhouse moves quickly to strengthen bench; number of deputies to Gross reaches six

Jan 29, 2014 @ 11:47 am (Updated 2:42 pm) EST

pimco, bill gross, mohamed el-erian
Virginie Maisonneuve, one of the four new deputy CIOs at Pimco. Bloomberg News

Pacific Investment Management Co., the world's biggest bond manager, named four deputy chief investment officers in an overhaul of its leadership team after Mohamed El-Erian's decision last week to step down as chief executive officer.

Mark Kiesel, global head of the corporate bond management group; Virginie Maisonneuve, global head of equities; Scott Mather, head of global fund management; and Mihir Worah, head of the real return group will join Dan Ivascyn and Andrew Balls as deputy CIOs, Pimco said in a statement Wednesday.

(Don't miss Pimco's other expansion plan: Gross vows to diversify: Pimco to launch 19 active ETFs)

Pimco has reorganized its senior leadership to emphasize the depth of its investment talent after the resignation of Mr. El-Erian, who shared the role of co-chief investment officer with co-founder Bill Gross. Mr. El-Erian was widely viewed as Mr. Gross's heir apparent and had led Pimco push to diversify beyond bonds into equities and nontraditional fixed income.

(Bloomberg News)

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