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Pimco Appoints 6 Deputy CIOs To Do The Work Of One El-Erian

Mark Kiesel, Virginie Maisonneuve, Scott Mather and Mihir Worah, currently managing directors at Pacific Investment Management Co, will become deputy chief investment officers, Pimco said in a statement. The four will join Dan Ivascyn and Andrew Balls, who were appointed last week after Mohamed El-Erian, who is the chief executive officer and who shares the chief investment officer role with Gross, abruptly announced plans to resign from Pimco, the world’s largest bond fund manager…”Our six deputy CIOs demonstrate the strength, depth and breadth of investment talent at Pimco,” Gross, 69, said in a statement. “Individually and as a team they have delivered for clients consistently, and they will now help lead Pimco’s investing excellence into the future.” [Reuters]

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11 Responses to “Pimco Appoints 6 Deputy CIOs To Do The Work Of One El-Erian”

  1. Guest says:

    Hehe. Gross, 69 and Andrew Balls…

  2. Guest says:

    6 deputy CIOs????? what is this, The Apprentice?

  3. guest says:

    nice way to signal to your investors that you are either a control freak who can't give up power or you don't have the ability to choose a proper successor

  4. guest says:

    I hope this doesn't mean that we now have to hear Pimco talking its book 6 times a day on CNBC instead of the once a day

  5. Guestein says:

    Oooohhhhhhh….

    6 CIOs x 1 ball + 1 CIO x 2 balls = 8 ball

  6. Guest says:

    I've always believed in the old adage, "quantity over quality" takes the day.

    -Bill G.

  7. Guest says:

    Worked for Rome.

    – UBS History Quant

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