New Pimco CEO Manny Roman Faces Outflow, Margin, Profit Pressure
Will Pimco's New Chief Emulate Past Successes?
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Emmanuel “Manny” Roman’s first task at Pacific Investment Management Co. will be reversing outflows at the asset manager. His time at Man Group Plc gave him the experience to do it.
Roman expanded Man Group’s assets under management through purchases including Newsmith’s equities-management business and Pine Grove Asset Management since he was appointed CEO in 2013. At Pimco, he will take charge of a company that has suffered management upheaval and lost about 25 percent of its assets since that year, when the firm oversaw $2 trillion. Allianz SE, the Munich-based insurer that acquired the company in 2000, said it expects net outflows at the unit to end this year.