Curtis Mewbourne, a managing director and veteran portfolio manager with PIMCO, will move to the firm’s New York office early next month to oversee the money manager’s expanding portfolio manager operations there, confirmed a PIMCO spokesman.
Reached by telephone at PIMCO’s Newport Beach, Calif., headquarters, Mr. Mewbourne called his move part of a broader effort to build up PIMCO’s presence and infrastructure in global financial centers as the firm adds new teams and capabilities.
Those new teams will be based “wherever it makes the most sense,” Mr. Mewbourne said. For example, should PIMCO add U.S. equity-focused capabilities, New York could be the best home, while other teams could end up in London or Singapore, he noted.
Mr. Mewbourne will continue to manage the PIMCO Dividend Income fund, a $3.5 billion multisector bond mutual fund, and co-manage the PIMCO Global Multi-Asset fund, a $2.9 billion world allocation mutual fund.
Ramin Toloui, an executive vice president and co-head of PIMCO’s emerging markets bond team, will assume oversight of the $3.6 billion PIMCO Emerging Markets Bond mutual fund from Mr. Mewbourne, effective Jan. 1.
Mr. Toloui will continue to co-manage the $2.3 billion PIMCO Global Advantage Strategy Bond mutual fund with Mohamed El-Erian, PIMCO’s CEO and co-chief investment officer.