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

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)