Pacific Investments hires CEO for new multiasset business

Matthew Lamb was named group CEO of Pacific Asset Management, a new multiasset business launched by Pacific Investments, a spokeswoman confirmed.

Mr. Lamb joined the $250 million business earlier this month from Deutsche Asset Management, where he was global head of liquid alternatives. Gianluca Muzzi will take over his responsibilities as sole head of the alternatives investment specialist team, a Deutsche spokesman said. They previously co-headed the team.

The firm said in a news release Wednesday that further senior hires will follow Mr. Lamb's appointment over the coming months. “This is something we have been planning and working towards for two years,” Sir John Beckwith, the founder of Pacific Investments Group, said in the release. “We have built a robust institutional infrastructure to ensure that the new team and funds are fully fledged and ready for market.”

Mr. Lamb said: “While the modernization of the asset management industry has brought clear benefits, there is still a role for active managers to blend their skills and insight.”

The spokeswoman was not able to comment on when the first institutional fund will be launched.

Pacific's combined asset management businesses founded over the course of 20 years collectively manage $20 billion in assets.