Richard M. Weil was named global head of PIMCO Advisory, a PIMCO subsidiary that provides advisory and structured credit services to private and public institutions.
The position is new.
Mr. Weil was chief operating officer at PIMCO; Douglas Hodge, managing director and head of Asia Pacific at PIMCO, will replace him, according to a news release. Mr. Hodge will continue to oversee the Asia Pacific region, according to PIMCO spokesman Mark Porterfield.
Dick Weil brings strong leadership and solid experience to our advisory business, which has grown rapidly over the past several years to serve the needs of our public- and private-sector clients around the world, Mohamed A. El-Erian, PIMCOs CEO and co-CIO, said in the release.
After spending seven years in Tokyo building a very successful Asia-Pacific business, Doug Hodge will bring to the role of COO his proven expertise, a powerful global perspective, and great energy, Mr. El-Erian said in the release.