PIMCO poached the boss of giant hedge fund the Man Group to be its new CEO

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French businessman Emmanuel (Manny) Roman is the new CEO of global investment management firm PIMCO.

He is an investment professional with nearly 30 years experience, most recently as CEO of the Man Group, one of the largest publicly-traded hedge funds in the world.

He was also co-CEO of GLG Partners and worked for 18 years at Goldman Sachs where he was co-head of Worldwide Global Securities and co-head of the European Services Division.

PIMCO’s current CEO Douglas Hodge will become managing director and senior advisor in November.

Roman will help drive PIMCO’s evolution as a provider of investment solutions built on the firm’s active management expertise in core bonds, non-traditional strategies, private credit, distressed debt, equities and real estate.

“I look forward to working with the firm’s talented team to continue to build on PIMCO’s success in what is a rapidly changing industry,” he said.

The California-based PIMCO is owned by Allianz SE, a global diversified financial services provider.

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