Joe McDevitt retired as managing director and head of PIMCO's London office, said a spokeswoman for the money manager.
Mr. McDevitt's last day was Wednesday, she said.
Mr. McDevitt managed the firm's business in the U.K., Benelux and Nordic regions. His responsibilities have been assumed by Bill Benz, managing director and head of PIMCO Europe, Middle East and Africa. Mr. Benz retains the EMEA position.
“After a 24-year career in the investment management industry and 16 wonderful years at PIMCO, I am proud of the many things we accomplished during my tenure at PIMCO,” Mr. McDevitt said in a comment provided by the spokeswoman. “Last year as I started talking to colleagues about my retirement plans, I was as confident then as I am now that the firm is very well positioned to … be a leader in the investment management industry for many years to come.”
Mr. McDevitt joined Pacific Investment Management Co. in 1998 and opened the $1.9 trillion firm's first European office, in London.
“As PIMCO's first employee based in Europe, (Mr. McDevitt's) leadership and dedication have played a key role in delivering value to our clients in the U.K. and across Europe, the Middle East and Africa,” Mr. Benz said in a comment provided by the spokeswoman.
