In the last few days, PIMCO has announced numerous changes in its executive positions. As it confirmed this week to Funds Society, Giovanni Onate will be joining them in Miami in the position of Senior Vice President. Also, in a press release, the asset manager revealed that Kimberley Stafford, currently Head of Asia-Pacific, will become Global Head of its Product Strategy Group.
Onate will be leading business development efforts in Mexico as the firm continues to expand its presence in Latin America and the Caribbean. He will report directly to Barbara Clancy, Executive Vice President and Head of Latin America and the Caribbean for PIMCO. Onate had been leading BlackRock’s Mexico institutional client business for more than a decade and will now be replaced by Horacio Gil, who joined the firm in 2019.
Stafford will return to PIMCO’s Newport Beach office in the middle of this year to take up the new role, overseeing traditional strategies and alternatives, which include PIMCO’s private strategies and hedge funds. Consequently, Alec Kersman, currently Head of Strategic Accounts in U.S. Global Wealth Management, will become the new Head of Asia-Pacific. Both will report to Emmanuel Roman, Managing Director and PIMCO’s Chief Executive Officer.
Stafford has been a member of PIMCO’s Executive Committee for five years and will also serve as a Trustee on the Board of PIMCO Funds, alongside Peter Strelow, Co-Chief Operating Officer and Chairman of PIMCO Funds. Stafford has led the Asia-Pacific region since 2017 and, during her 21 years at the asset manager, she has held various positions including Head of the Consultant Relations Group, oversight of U.S. institutional sales and alternatives marketing teams, Head of Human Resources and Talent Management and Head of Global Sustainability Initiatives and Account Manager in the Consultant Relations Group.
“Kim has served in almost every facet of our business during her two decades working for PIMCO. She is a strategic thinker and a natural leader who motivates, mentors and develops employees. Her expertise in managing client relationships will be invaluable as we continue to evolve our products and strategies for investors in traditional and private strategies”, said Roman.
Regarding Kersman, the firm highlights that he drove the growth of the Latin America business over more than a decade and, more recently, has played a major role in bringing his client relationship expertise to U.S. GWM: “With his deep understanding of the regulatory environment and proven strategic leadership, Alec will build on the excellent work that Kim and the team have delivered over the past four years driving our expansion in Asia-Pacific,” added Roman.
Kersman will be supported in Asia-Pacific by PIMCO’s regional leadership team and deep bench of investment professionals. In addition, John Studzinski, Vice Chairman of PIMCO’s Executive Office, will continue playing a key role in broadening relationships in Asia-Pacific with leaders in business, finance, government and NGOs.
Other appointments
The firm also announced other key leadership roles: David Fisher, currently Head of Traditional Product Strategies, will become Co-Head of U.S. GWM Strategic Accounts alongside Eric Sutherland, President of PIMCO Investments LLC. Fisher, who has spent 13 years as a leader in the Product Strategy Group and also serves as a trustee of PIMCO Closed End Funds, will relocate to the New York office. He and Sutherland will report to Gregory Hall, Head of U.S. GWM. Ryan Korinke, Head of Hedge Fund and Quantitative Strategies, based in Hong Kong, will join PIMCO’s Executive Office in Newport Beach, where he will report to Roman.
Commenting on Korinke’s role in the Executive Office, Roman pointed out that his understanding of hedge fund strategies and the role they play for clients, together with his “detail-oriented and thoughtful approach” have helped deepen many of their relationships with hedge fund investors around the world. “He is a creative and analytical thinker and widely admired by PIMCO colleagues as an executive who embodies PIMCO’s culture”, he concluded.
Por Funds Society, Madrid
Por Marcelo Soba