Daniel Ivascyn on Friday was named group chief investment officer of Pacific Investment Management Co.
He replaces William H. Gross, who announced earlier on Friday he was joining Janus Capital Group as portfolio manager.
Mr. Ivascyn was deputy CIO at PIMCO, overseeing PIMCO’s alternatives strategies, structured credit and income strategies, according to a news release from the firm. He will continue with those responsibilities.
Also, Andrew Balls, Mark Kiesel, Virginie Maisonneuve, Scott Mather and Mihir Worah were named CIOs.
Messrs. Kiesel, Mather and Worah were named portfolio managers for the $221.6 billion PIMCO Total Return Fund, while Mr. Ivascyn along with Saumil Parikh and Mohsen Fahmi will be portfolio managers on the $21.6 billion PIMCO Unconstrained Bond fund.
Douglas Hodge and Jay Jacobs remain CEO and president at PIMCO, respectively.
In the news release, Mr. Hodge said: “PIMCO has been developing a succession plan for some time to ensure that the firm is well prepared to manage a seamless leadership transition in its portfolio Management team.”
Mr. Balls will be CIO global and head of European portfolio management; Mr. Kiesel, CIO global credit and global head of corporate bond portfolio management; Ms. Maisonneuve, CIO equities and global head of equities; Mr. Mather, CIO U.S. core strategies and head of global portfolio management; and Mr. Worah is CIO return and asset allocation, and head of the real return and multiasset portfolio management teams.
Messrs. Parikh and Fahmi are managing directors and generalist portfolio managers.