Pimco turns to Roman to lead revival

摘要

Pimco has poached Emmanuel "Manny" Roman from hedge fund Man Group to become chief executive and reverse a slump in fortunes since co-founder Bill Gross left in 2014. Pimco built its reputation largely through its management of fixed income securities, but has been under pressure to reverse a drop in assets under management since the abrupt departure of Gross, nicknamed "the Bond King". California-based Pimco, owned by German insurer allianz, managed US$1.5trn at the end of March, down from a peak of US$2trn in the first three months of 2013.