Money Management

PIMCO head of portfolio risk management resigns following allegations of inappropriate behavior

William De Leon, global head of portfolio risk management at Pacific Investment Management Co., resigned July 20, according to a PIMCO spokesman.

Mr. De Leon resigned "to spend more time with his family," the spokesman said. However, two sources who spoke on condition of anonymity said Mr. De Leon had been accused of inappropriate actions against a PIMCO employee.

The PIMCO spokesman would not comment on the accusations. Efforts to reach Mr. De Leon were not successful.

Sudi Mariappa was named global head of portfolio risk management to replace Mr. De Leon at PIMCO, according to a memo to employees from Daniel Ivascyn, group chief investment officer, and CEO Emmanuel Roman.

Mr. Mariappa was managing director and portfolio manager at PIMCO, according to the memo, and will continue as a managing director. He will be replaced by Mohsen Fahmi, managing director and global fixed-income portfolio manager.