Pimco Hires Credit Suisse’s Luk for Interest Rate Derivativesby
Danielle Luk leaves Credit Suisse, where she traded options
Tiffany Wilding leaves rate research post at Tudor Investment
Pacific Investment Management Co. hired Danielle Luk from Credit Suisse Group AG as a portfolio manager and Tiffany Wilding from Tudor Investment Corp. as economist.
Luk, who was an options trader at Credit Suisse, will focus on interest rate derivatives and report to Josh Thimons, Pimco said today in a statement. Wilding, who worked as director of global rate research at Tudor, will report to Joachim Fels, the firm’s global economic advisor.
Pimco has announced a series of job cuts and new hires this year as it seeks to adapt to changing markets and reduced assets under management, and find new sources of revenue. In June, it fired 68 employees or about 3 percent of its workforce, including most of those who remained on its equities desk. This month, it added Gene Frieda from Moore Capital Management and Yacov Arnopolin from Goldman Sachs Asset Management to its emerging markets team in London.
“Danielle and Tiffany are examples of the top industry talent we continue to add to our global team of investment professionals,” Pimco Group Chief Investment Officer Dan Ivascyn said in the statement. “So far in 2016, Pimco has hired more than 140 new employees around the world, in a broad range of areas from portfolio management to business development.”
Wilding and Luk will both be based at Pimco’s headquarters in Newport Beach, California.