Money Management

PIMCO managing director picked for new head of retirement post

Rene Martel, managing director at Pacific Investment Management Co., was named head of retirement, a newly created position, spokeswoman Agnes Crane said.

Mr. Martel, who has been head of pension solutions at PIMCO since 2006, will add to his current responsibilities to "oversee the development and implementation of solutions across the broad retirement market," a PIMCO news release said.

As head of pension solutions Mr. Martel focused on asset allocation, asset-liability management and liability-driven investing for pension funds and will add defined contribution plans to his responsibilities as part of the new position. He will report to Emmanuel Roman, PIMCO's CEO.