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Pimco Hires Ex-Citadel Research Head Mattu to Head Analytics

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Feb. 22 (Bloomberg) -- Pacific Investment Management Co. hired Ravi Mattu, a former head of research and strategy for Citadel Securities, as managing director in charge of analytics.

Mattu will report to Chief Executive Officer Mohamed El-Erian, Newport Beach, California-based Pimco said today in a statement. He will start at Pimco on March 2.

Mattu left Citadel Securities, the investment-banking unit of Chicago hedge fund Citadel LLC, in July, following a series of departures among senior management at the unit. In his new role at Pimco, he will help clients analyze their portfolios.

“Ravi’s mandate is to expand our state-of-the-art analytics solutions for Pimco’s clients,” El-Erian and Bill Gross, Pimco’s co-chief investment officers, wrote in a letter to employees today. “Having a world-class integrated analytics framework has been key to Pimco’s success, and remains so,” they wrote.

Pimco, which manages $1.24 trillion, runs the world’s biggest mutual fund.

To contact the reporter on this story: Sree Bhaktavatsalam in Boston at sbhaktavatsa@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net