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Money Management

PIMCO brings on former Blackstone vice chairman for similar role

John Studzinski

John Studzinski was named managing director and vice chairman of Pacific Investment Management Co., the company announced Wednesday.

The position is new, said a PIMCO spokesman. He will advise PIMCO's top institutional clients worldwide, including public and private pension funds and sovereign wealth funds. He also will work with but not oversee PIMCO's regional client management teams, the spokesman said.

Mr. Studzinski will report to CEO Emmanuel Roman.

Mr. Studzinski was senior managing director and vice chairman, investor relations and business development, at Blackstone Group. A Blackstone spokeswoman could not be immediately reached for details on Mr. Studzinski's replacement. However, a company spokeswoman said on Aug. 3 that Blackstone will not immediately replace Mr. Studzinski after he leaves at the end of the month.

PIMCO had $1.77 trillion in assets under management as of March 31.