UPDATE 2-DoubleLine says hires three as bond firm seeks expansion
(Adds Pimco had no comment, background on new hires)
NEW YORK May 12 (Reuters) - DoubleLine Capital, the bond management firm run by Jeffrey Gundlach, on Monday said it had hired two institutional sales representatives and an open-end mutual funds operations specialist as the company continues to build out into new lines of business.
Gheorghe Rotar, Jr has joined DoubleLine as a mutual fund operations specialist and will report to Patrick Townzen, manager of operations at DoubleLine.
Rotar joined DoubleLine from Newport Beach-based Pacific Investment Management Company, or Pimco, where he was employed since 2007. Last month, DoubleLine named Ignacio Sosa, previously Pimco's executive vice president for global bond product management, as director of DoubleLine's newly formed Product Solutions Group. Pimco declined to comment.
DoubleLine employs 114 people and manages approximately $50 billion in assets.
DoubleLine also said Christopher Von Bargen recently joined as sales representative responsible for institutions domiciled in the Southeastern United States.
Frederick Schachinger will also join the institutional market team, effective June 2, with responsibility for the Northeast. They will report to Vincent Fiorillo, manager of Global Sales at DoubleLine.
At Pimco, Rotar served most recently as supervisor in the firm's funds operations department. His duties there included managing the alternative funds team, new employees, performing cost/benefit analysis and implementing cost-reducing projects across multiple groups.
Schachinger came from Deutsche Asset Management in New York where he has served as the team lead for pension, foundation and endowment sales. He previously served as director of the Global Client Group at BlackRock/Barclays Global Investors.
Von Bargen came from PNC Capital Advisors in Atlanta where he served as a vice president responsible for institutional business development and consultant relations in the Southeast. (Reporting by Jennifer Ablan; Editing by Nick Zieminski)