Ethan Schwartz was hired as an executive vice president and portfolio manager at Pacific Investment Management Co., focusing on distressed credit, said spokesman Mark Porterfield.
Mr. Porterfield did not respond to e-mailed questions on Mr. Schwartz's specific role and whether it is a new position.
Mr. Schwartz will report to Sai Devabhaktuni, executive vice president and head of corporate distressed portfolio management, a news release said.
The hiring is part of an effort by PIMCO to broaden its alternative fixed-income offerings.
Mr. Schwartz was a senior analyst at Contrarian Capital Management. Contrarian officials did not respond to a phone call seeking comment on Mr. Schwartz's replacement.