Pimco promotes four executives to deputy CIO

Pimco has appointed four deputy chief investment officers, following last week’s surprise exit of chief executive and co-CIO Mohamed El-Erian.

The promotion of the quartet takes the firm’s total chief investment team to six.

The new deputy CIOs are made up of global head of equities Virginie Maisonneuve, who joined the firm this year, global head of the corporate bond portfolios Mark Kiesel, head of global portfolio management Scott Mather and head of real return portfolio management Mihir Worah.

The existing deputies are US fixed income manager Dan Ivascyn and head of European portfolio management Andrew Balls.

They report to company founder and chief investment officer Bill Gross.

Gross says: “Individually and as a team they have delivered for clients consistently, and they will now help lead Pimco’s investing excellence into the future,” he adds.

Meanwhile, Pimco has rehired Sudi Mariappa from GLG, three years after he left the firm. He takes a managing director position and will be a generalist portfolio manager based at the New Port Beach office.

Doug Hodge, a 25-year Pimco veteran, has replaced El-Erian as chief executive of the firm.

While equities portfolio manager Charles Lahr has left the company to pursue other opportunities and spend more time with his family. Portfolio manager Marc Seidner has also left.