PIMCO, one of the world’s largest active managers of fixed income assets, has appointed Eric Mogelof as head of its Asia Pacific activities, among major reshuffles in its leadership team throughout the past year.

PIMCO, one of the world’s largest active managers of fixed income assets, has appointed Eric Mogelof as head of its Asia Pacific activities, as the firm continues to change its leadership figures.

Mogelof, a managing director, will oversee the firm’s business in the region, including PIMCO’s Hong Kong, Singapore, Sydney and Tokyo offices, PIMCO said in a statement yesterday. He will report to Douglas Hodge, managing director and chief executive who took over the role from Mohamed El Erian following his resignation in January.

Mogelof joined PIMCO in 2003, where he was head of Americas institutional business and global head of PIMCO advisory. He will continue to serve as a member of the firm’s executive committee, the governing body that sets policy and strategic direction for the firm.

Prior to joining PIMCO, Mogelof worked as a financial analyst in the investment banking division at Salomon Brothers and was also an associate at Jupiter Partners, a private equity firm.

“Eric’s appointment underscores PIMCO’s commitment to the Asia Pacific region and our focus on delivering superior investment results and world class service,” said Hodge.  

The firm has seen a number of top-level moves; there has been the departure of former Chief Executive Officer Mohamed El-Erian - he is said, according to reports, to have left following disagreements with CIO and co-founder Bill Gross.

In addition to naming Douglas Hodge as replacement CEO, PIMCO has appointed six new deputy investment chiefs. PIMCO is a subsidiary of Allianz, the German insurance and financial services group. In May, the Frankfurt-listed group reported that operating profit at its asset management arm fell 26 per cent, driven largely by net outflows of €21.7 billion ($29.7 billion) from PIMCO.