Pimco will soon wave goodbye to its head of Asia ex-Japan client management, Michael Thompson, who has been with the bond fund manager for nearly 15 years.
“After spending over a decade in Asia, Michael has planned for some time to eventually relocate his family back to the UK and has decided that now is a good time to pursue this personal goal,” a Pimco spokeswoman told AsianInvestor. “He will remain with the firm to effect a smooth transition through the end of July.”
She added that Thompson's departure would not result in changes in the roles of Adrian Stewart, Asia-Pacific head of client management – to whom Thompson reports – or of Kimberley Stafford, head of Asia Pacific.
The $1.78 trillion fund house does not plan to replace Hong Kong-based Thompson, who oversees both institutional and intermediary clients, said the spokeswoman.
Pimco's country and business heads will in future all report directly to Stewart. They include Greater China head Yin Haining, Korea head Park Jung, South Asia head Theresa Tan and Marcio Bogoricin, wealth management head for Hong Kong and Singapore.
“We will continue to look to our strong and capable client management teams in Asia ex-Japan under the leadership of Adrian to continue to service our clients across these markets and the wealth management segment,” the spokeswoman said.
Thompson’s previous roles at Pimco include heading the Singapore office and the Asia ex-Japan wealth management group, and leadership roles for its Europe, the Middle East and Africa business.
Before joining the California-based firm in early 2006, Thompson was a client services executive at Western Asset, another American bond fund manager.
He did not immediately respond to a request for comment sent via LinkedIn.
Pimco has been busy in Asia in recent months. It emerged in March that the firm would assume oversight of Allianz Real Estate, another affiliate of German insurance group Allianz, with Asia-Pacific a key focus for the newly merged business.
Meanwhile, Pimco hired Theresa Tan in March from Wellington Management to oversee client management in Southeast Asia, and poached Zhou Lingling from JP Morgan Asset Management late last year to head its newly set-up onshore China business.
Pimco has also seen senior recent departures in Asia this year, such as that of Henry Chui, North Asia head of private banking, who joined rival Nuveen. Plus Todd Staley, the former head of global wealth management for Hong Kong and Singapore and head of the Singapore office, relocated in April to the firm’s Newport Beach headquarters for a new role.