PIMCO picks U.K. institutional business chief

John Griffiths was named PIMCO’s senior vice president and head of U.K. institutional business development, confirmed spokeswoman Anne Fairchild. He replaced Paul Craven, who left in 2007 to become head of institutional business development for the U.K. and Ireland at Goldman Sachs Asset Management. Mr. Griffiths will report to Joe McDevitt, managing director and head of PIMCO Europe. Mr. Griffiths was head of pension fund development at Santander Global Banking & Markets. Santander spokesman Ovidio Cordero could not be reached for comment by press time.