California-headquartered investment manager PIMCO, which oversaw about $1.95 trillion in assets under management at the end of December 2024, has just appointed a new head of wealth management for its Australian business.

PIMCO has just appointed David Orazio (pictured) as its executive vice president and head of global wealth management for Australia. He is replacing Brendo Rodda, who has left PIMCO for a distribution role at Allianz Retire.

Prior to joining PIMCO in 2015, Orazio was the national key account manager for Macquarie private portfolio management, responsible for the distribution of customised managed account portfolios to national dealer groups, advisors and not-for-profit organisations.

Previously, Orazio worked for Ascalon Capital Managers, part of the Westpac Group, for over six years, the firm said in a statement. He has 20 years of investment experience and holds a bachelor of business degree, majoring in banking and finance, from Queensland University of Technology.

This is the third local promotion at the US asset manager.