All strategies work – until they don’t. While the hottest ticket in town is still private credit, is it everything it’s cracked up to be?
In Cliff Asness’ latest missive, a fictional asset allocator from the future looks back on the decade to 2035 to figure out which assets helped their performance and which hurt it.
PIMCO back in business with senior appointments
(Pictured: Adrian Stewart)
After more than a year of searching and, possibly, soul searching, PIMCO last week announced two key appointments for the region – head of Asia Pacific and head of Australia.
Adrian Stewart, former head of institutional business at Macquarie, is the new Australian chief, based in Sydney, and Eric Mogelof is the new head of Asia Pacific, to be based in Hong Kong.
Doug Hodge, the chief executive of PIMCO to whom Mogelof will report, is familiar with the region, having held the head of Asia Pacific role, then based in Tokyo, for several years before returning to Newport, California head office. Mogelof, who is to relocate from New York for his new job, has been with PIMCO in 2003.
The position of Australia head has been vacant since early last year after the resignation of John Wilson, who set up the firm’s business here in the 1990s and oversaw its growth to the number one position for fixed interest managers. Wilson has made a lifestyle change and is currently pursuing a masters degree and sitting on a number of boards.
Rob Mead, a managing director and head of portfolio management, has been acting chief executive in Australia since Wilson’s departure. He was also part of the hiring committee for Stewart’s appointment.
Stewart’s career encompasses both wholesale and retail distribution. Before heading up the institutional business he was head of Macquarie’s ‘professional series’ where he was responsible for product, investment, distribution and marketing.
