Baz will join the firm in May from Man GLG Partners, where he most recently served as senior managing director and chief investment strategist. Before that, he managed global portfolios for PIMCO in Europe and held various roles at Goldman Sachs, Deutsche Bank and Lehman Brothers.

In his new role, Baz will be based in Newport Beach, CA, providing studies and solutions in areas including asset allocation, risk management and portfolio construction. He will report to Ravi Mattu, managing director and global head of analytics, and Mihir Worah, managing director and chief investment officer for asset allocation.

PIMCO has 13 offices in 12 countries across North America, Europe and Asia. In December last year, the firm created an advisory board of five renowned economic and policy figures, including former UK prime minister Gordon Brown. Other figures who joined the board were former Federal Reserve chairman Ben Bernanke as chairman; Jean-Claude Trichet, former president of the European Central Bank; Ng Kok Song, former chief investment officer of the Government of Singapore Investment Corporation; Anne-Marie Slaughter, president and chief executive of think tank New America and former US Department of State policy director.