Pimco Promotes Spajic to Lead Emerging Market Portfolios

Pacific Investment Management Co., the $1.87 trillion asset manager seeking to boost its leadership after the sudden departure last month of co-founder Bill Gross, promoted money manager Luke Spajic to lead its emerging markets investments in Asia.

Spajic, who joined Pimco in 2007 and is currently a senior credit money manager in the firm’s headquarters in Newport Beach, California, will relocate to Singapore, the firm said in a statement today. He’ll join the Asia-Pacific portfolio committee, and will report to Michael Gomez, head of emerging markets.

“Luke’s new assignment will enhance our global investment platform and help Pimco tap the ever-deepening investment opportunities in emerging Asia for our clients,” Gomez said in the statement. “Luke has a rich background in macroeconomic strategy, portfolio management and credit research, which makes him perfectly suited to his new role.”

Pimco is building out its senior leadership team after Gross’s abrupt departure Sept. 26, appointing six chief investment officers and naming Daniel Ivascyn as group CIO. The firm plans to announce new hires in the near future after adding 20 money managers this year, Pimco Chief Executive Officer Douglas Hodge said this month.

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