PIMCO unveils second wave of senior changes

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PIMCO has announced several senior appointments to its newly-formed leadership team marking the second major change following Mohamed El-Erian’s departure.

Senior managers Scott Mather, Mark Kiesel, Mihir Worah and Virginie Maisonneuve have all been named as deputy chief investment officers.

They will sit alongside Andrew Balls and Dan Ivascyn, who were appointed to their roles following El-Erian’s departure last week.

This means there will be a six-strong team serving as deputy CIOs working closely with founder and chief investment officer Bill Gross.

Commenting on the structure, Gross said: ‘Our six Deputy CIOs demonstrate the strength, depth and breadth of investment talent at PIMCO.’

‘Individually and as a team they have delivered for clients consistently, and they will now help lead PIMCO’s investing excellence into the future.’

The move to form a senior leadership team coincides with Sudi Mariappa re-joining the group from GLG Partners. He will join the Newport Beach office as a generalist fund manager.

Mariappa originally left PIMCO in September 2012 to join the London-based investment firm. During his first spell with PIMCO between 2000 and 2011 he had overseen $85 billion in assets.

Elsewhere, Marc Seidner, who was formerly interim head of equities, and Charles Lahr, an equities portfolio manager have left the company.

Seidner had stepped in to oversee the equity team following the departure of Neel Kashkari in January 2013. Seidner then stepped back from the role after Maisonneuve joined from Schroders in October.