The bond fund manager does not plan to replace him. It has seen several senior-level hires and departures in the region in recent months.
The US asset manager is about to unveil the appointment of a Wellington Management veteran to fill a key role for its institutional business after recent senior staff changes.
Once the deal is done, the $100 billion-plus juggernaut is expected to ramp up its Asia exposure, with Pimco likely helping Allianz Real Estate to build a third-party client business.
Workplace inclusiveness ultimately strengthens investment capabilities, say experts. The launch of the HK Bloomberg Women’s Buy-side Network aims to progress the debate.
The US fund house has poached a senior executive from its rival in Shanghai as foreign firms continue their battle for talent to expand their capabilities in China.
Asset owners have been caught between a rock and a hard place. Volatile equity markets are forcing them into fixed income but options are fast dwindling.