Money Management

PIMCO signs new managing director

Erin Browne was named managing director and portfolio manager, asset allocation, at Pacific Investment Management Co.

The position is new, said a PIMCO spokeswoman.

Ms. Browne will report to Mihir Worah, managing director and chief investment officer for asset allocation and real return.

She was managing director and head of asset allocation on the investment solutions team for UBS Asset Management. According to a UBS spokeswoman, "Over the past 18 months, we have unified and institutionalized our macro research and asset allocation investment views. The asset allocation function now reports directly to Ryan Primmer, head of investment solutions."

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