Pacific Investment Management Co. (PIMCO) is continuing to build up its portfolio management team, in the wake of the surprise departure of founder, Bill Gross, earlier this year.
The Newport Beach, Calif.-based investment management giant said Monday that Marc Seidner, who was a senior portfolio manager at PIMCO from 2009 to 2014, is returning to the fold as a managing director and portfolio manager, effective Nov. 12. He will also take on a new role as chief investment officer, non-traditional strategies and head of portfolio management in its New York office, and he’ll become a member of PIMCO’s investment committee. He left PIMCO to become a partner and head of fixed income at GMO LLC.
In his new role, Seidner will report to PIMCO’s new group chief investment officer, Daniel Ivascyn, who replaced Gross when he left the firm back in September. The firm says that he will work closely with Ivascyn on the oversight of several non-traditional investment teams; and, he will assume generalist portfolio management responsibilities as part of his new role.
“Marc is a talented, highly experienced investor with broad market expertise and a deep knowledge of PIMCO, and his return will further enhance our global investment platform,” Ivascyn said. “Marc will be able to seamlessly contribute to our investment process and efforts on behalf of PIMCO’s clients. We are very pleased that he is returning to PIMCO in a senior portfolio management role.”
Prior to joining PIMCO in 2009, Seidner was a managing director and domestic fixed income portfolio manager at Harvard Management Co., Inc. and also the director of active core strategies at Standish Mellon Asset Management Co. LLC. He also held senior portfolio management roles at Fidelity Management & Research Company.