PIMCO names Kashkari's replacement for stocks
By Randy Diamond | January 30, 2013 3:46 pm
Marc Seidner was named on Wednesday interim head of global equities at Pacific Investment Management Co., said sources at the company who would not speak for attribution.
Mr. Seidner, who is a managing director and portfolio manager at the firm, replaces Neel Kashkari who announced Jan. 23 that he was leaving PIMCO and that he would consider running for public office in California.
Mr. Kashkari, a former top U.S. Treasury official, joined PIMCO in 2009 and shortly after his arrival was given the responsibility to launch the company's active equity funds. The six funds' assets of around $10 billion are a small fraction of the fixed-income managers $1.9 trillion in assets.
Sources said PIMCO is conducting a search for a permanent replacement for Mr. Kashkari.