Ernest Schmider was named president of PIMCO Funds, which manages 42 domestic bond funds totaling $150 billion in assets. Mr. Schmider, who joined parent Pacific Investment Management Co. as chief administrative and legal officer in 1994, succeeds R. Wesley Burns, who will remain at PIMCO in a senior consulting role. Mr. Burns will also remain a trustee of PIMCO Funds and a director of PIMCO Commercial Mortgage Trust. Mr. Schmider, who will remain PIMCO's head of fund administration, was global head of operations and infrastructure at PIMCO. Those duties were assumed by David Lown, director of technology and operations, said Mark Porterfield, spokesman.