US asset manager Pimco has hired Man Group’s Manny Roman as its new chief executive officer, the firm has announced.
The move will see Roman, who has 30 years of investment experience, join Pimco in its Newport Beach office from November 1.
Roman was most recently chief executive of Man Group, which is a position he held since 2013. His departure has prompted the group to name Luke Ellis, president of Man Group, as chief executive of Man Group from September 1.
Roman will work with Ellis during the handover period before stepping down formally on August 31.
In his new capacity, Roman will take over from Pimco’s current chief executive Douglas Hodge, who will become managing director and senior advisor when Roman joins the firm in November. He will work with Roman to ensure a smooth transition of executive responsibilities.
In his new role, Roman will help drive Pimco’s continued evolution as a provider of investment solutions built on the firm’s active management expertise in areas such as core bonds, non-traditional strategies, private credit and equities, among others.
Commenting on the new hire, Dan Ivascyn, Pimco’s group chief investment officer said Roman’s deep understanding of global markets, unique skills in investment management and appreciation of Pimco’s macro-based investment process, make him the ideal executive to position the firm for long term success.
He said: ‘Roman’s skills and experience include all of the attributes that are key to delivering value to Pimco’s clients - investment acumen, intellectual capacity and thought leadership, broad industry experience, executive leadership and an excellent fit with Pimco’s cultural values.’
Prior to joining Man Group, Roman had worked for more than 18 years at Goldman Sachs, where he was co-head of worldwide global securities and co-head of the European services division.