NEW YORK (Reuters) - PIMCO, one of the world’s largest fixed-income managers, on Monday named Erin Browne, previously of UBS Asset Management and Steve Cohen’s Point72 Asset Management, as managing director and portfolio manager focused on asset allocation.
Browne, who most recently helped drive macro research at UBS and created a framework for allocation across asset classes, will report to Mihir Worah, managing director and chief investment officer for Asset Allocation and Real Return. She will be based in Newport Beach, California.
Pimco oversaw $1.72 trillion as of Sept. 30.
Browne will work with senior members of PIMCO’s asset allocation team such as Geraldine Sundstrom, managing director and portfolio manager, who focuses on expanding the firm’s more tactical multi-asset strategies.
Browne will also partner with recent hires in portfolio management such as executive vice presidents Wesley Chan, who focuses on quantitative equity strategies; Bill Smith, who focuses on global equities; Stephen Chang in the Hong Kong office; and Senior Vice President Amit Agrawal, who specializes in high yield and macro credit strategies.
PIMCO has hired more than 700 new employees over the last two years, including more than 150 investment professionals globally.
Reporting by Jennifer Ablan; Editing by Richard Chang