(Reuters) - Pacific Investment Management Co has named Rene Martel, a managing director at the Newport Beach, Calif.-based firm, as its head of retirement, a new role for the firm, a spokesman said Tuesday.
Martel, who will report directly to PIMCO CEO Emmanuel Roman, will collaborate closely with PIMCO teams which play a key role in retirement strategies and services, including Client Solutions and Analytics, Defined Contribution, Product Strategy Group and Global Wealth Management, the spokesman said.
“Our ambition is to be a premier retirement provider helping clients strategically navigate existing challenges and prepare for emerging ones,” Roman said.
“Millions of Americans will need access to both low risk and income-oriented solutions in their retirement while younger investors need access to solutions focused on steady and sustainable growth – all of which we believe an active bond investor like PIMCO is well-positioned to provide.”
Pimco, which is owned by Allianz SE, has $1.76 trillion in assets under management, as of March 2019.
Reporting By Jennifer Ablan; Editing by Phil Berlowitz