Anthony Balestrieri was named chief investment officer of M&G Investments (America).
Mr. Balestrieri joined the firm April 1 in its new Chicago-based North American headquarters, a spokeswoman said.
The new office will be fully operational later this year with 35 new employees in portfolio management, research, trading and support services. Previously, the money manager just had sales offices in North America.
Mr. Balestrieri was previously executive vice president and chief investment officer, total return, at PPM America. PPM spokeswoman Julie Bruzek said Craig Smith is the current CIO.
M&G Investments has $465.7 billion in assets under management.