Pimco's CIO for global equities, Maisonneuve, leaving after less than two years

Pimco's CIO for global equities, Maisonneuve, leaving after less than two years
Executive to leave after helping liquidate three active stock strategies at the firm
MAY 04, 2015
Virginie Maisonneuve, Pimco's chief investment officer for global equities, is resigning as the firm closes two equity strategies, the money management firm disclosed in a statement on Thursday. Ms. Maisonneuve joined Pacific Investment Management Co. in January 2014. A key part of her mandate was to build up assets in the two strategies the company has decided to close: the EqS Pathfinder Fund, a value equity strategy and the EqS Emerging Markets Fund. Doug Hodge, CEO of Pacific Investment Management Co., said in a statement that Ms. Maisonneuve will direct the transition and “oversee an orderly liquidation of these strategies.” In light of the changes, she decided to leave the firm after the liquidation, he said. Sources say she will not be replaced. EqS Pathfinder, the largest of the two strategies, had $1.2 billion in assets as of March 31, shows data provider eVestment. The EqS Emerging Markets fund had $81 million in assets as of March 31, eVestment shows. Pimco made a push into active equities in 2010, saying its investors wanted a firm that could manage money across equity classes. (More: Pimco plucks two from Schroders for equities expansion effort) But the equity strategies that are closing, a key part of Pimco's active equity initiative, were never able to generate significant inflows. The firm has been focusing on retooling its fixed-income operations and stemming billions of dollars in asset outflows following the departure of William H. Gross, former chief investment officer. In the statement, Mr. Hodge said that equities will continue to be an important part of Pimco's operations. The firm has around $50 billion in equities, mostly in passive strategies and as part of a subadvisory partnership with alternative index provider Research Affiliates. Randy Diamond is a reporter at sister publication Pensions & Investments.

Latest News

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut
RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut

Modern Wealth's latest deal for a California-based fee-only RIA marks its fourth acquisition of 2025.

Empower defends private market access in 401(k)s in response to Warren scrutiny
Empower defends private market access in 401(k)s in response to Warren scrutiny

Sen. Warren has warned of private market investment risks due to opacity, illiquidity, and past regulatory issues.

AI is gaining traction with buy-side equity traders and may be an unstoppable force
AI is gaining traction with buy-side equity traders and may be an unstoppable force

Use of the technology is growing and asset managers see transformative benefits.

One fifth of Americans are expecting an inheritance but are too many relying on it?
One fifth of Americans are expecting an inheritance but are too many relying on it?

Research reveals expectation could be replaced by disappointment.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.