Pimco seeking licence, staff for new Taiwan operation

Pimco is seeking regulatory approval and hiring staff for the new operation it is setting up in Taiwan as it eyes increasing distribution of its funds in the country. The US asset manager, which recently secured office space in Taipei, plans to become a master agent so it can sell its own offshore funds locally, Michael Thompson, head of Asia ex-Japan, told AsianInvestor. This will mean it no longer has to share profits with Allianz Global Investors, its sister firm and master a…