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

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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]