In El-Erian departure wake, Seidner joins Grantham Mayo from Pimco

Fund manager to oversee fixed income for the Boston money manager

Feb 3, 2014 @ 8:28 pm

el-erian, gross, seidner, grantham, bonds, fixed income, harvard
+ Zoom
(Bloomberg News)

Marc Seidner, who left Pacific Investment Management Co. in a leadership shakeup triggered by Chief Executive Officer Mohamed El-Erian's resignation, joined Boston money manager Grantham Mayo Van Otterloo & Co. to oversee fixed income.

Mr. Seidner, who was a generalist fund manager at Pimco and a member of its investment committee, will join as a partner and start March 4, GMO said Monday in an e-mailed statement. The firm manages $12 billion in fixed income, according to its website. Tom Cooper, previously head of fixed income, will continue to lead the firm's emerging-debt strategies.

GMO is known for the bearish views of its chief investment strategist Jeremy Grantham, who correctly forecast in 2000 that U.S. stocks would decline in the coming decade, and as early as July 2007 predicted that a large global bank would go bust amid credit market declines. Mr. Seidner, who worked with Mr. El-Erian at Harvard University's endowment before joining him at Pimco, left last week as the firm named six deputies to investment chief Bill Gross.

At Pimco, Mr. Seidner worked on the separately managed accounts affiliated with mr. Gross's $237 billion Total Return Fund (PTTRX), as well as low duration and alpha overlay strategies. Mr.Gross said in an interview last week that Pimco rehired Sudi Mariappa as a generalist fund manager to take over responsibilities for Mr. Seidner.

Mr. Seidner was Pimco's interim head of global equities after Neel Kashkari left in January 2013. That role was filled when Pimco in October announced it hired Virginie Maisonneuve from Schroders to oversee the unit.

Before joining Pimco in 2009, Mr. Seidner was a domestic fixed-income portfolio manager at Harvard Management Co., the manager of the university's endowment, which Mr. El-Erian headed from 2006 to 2007. Mr. El-Erian said last month he's stepping down from his roles as CEO and co-chief investment officer at Pimco.

(Bloomberg News)

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Ed Slott: Many investors are still not using this IRA strategy to save on taxes

If you have a client who has an IRA that is subject to required minimum distributions and they're donating to charity, they should be using qualified charitable distributions, according to Ed Slott, founder of Ed Slott's Elite IRA Advisor Group.

Video Spotlight

Will It Last As Long As Your Clients Do?

Sponsored by Prudential

Video Spotlight

The Catalyst

Sponsored by Pershing

Latest news & opinion

Brian Block's $4 million bonus was tied to a key metric at ARCP

Prosecution rests case in fraud trial against CFO of American Realty Capital Properties.

Edward Jones is winning the Google search war

Brokerage firm's digital marketing investment helps land it at the top of local and overall search engine results, report finds.

Voya's win in 401(k) fee suit involving Financial Engines bodes well for other record keepers

Fidelity, Aon Hewitt and Xerox HR Solutions are currently defending against similar fiduciary-breach claims.

Collective investment trusts getting more attention from 401(k) advisers

The funds are catching on due largely to lower costs and more product availability, but come with some inherent drawbacks.

Vanguard rides robo-advice wave to $65B in assets

Personal Advisor Services, four times the size of its closest competitor, combines digital and human touch.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print