Money Management

PIMCO adds head of corporate development

Colin Riendeau was named executive vice president and head of corporate development at Pacific Investment Management Co.

The position is new, a PIMCO spokesman said. It will focus on corporate strategy, determining growth opportunities for the money management firm.

Mr. Riendeau will report to John Kirkowski, managing director and co-CFO.

Mr. Riendeau was a principal at Apollo Global Management, focused on global strategy. Further information on his position could not be learned.

PIMCO had $1.36 trillion in assets under management as of March 31, according to parent Allianz Group's first-quarter earnings release.