PIMCO has appointed Marc Seidner as a managing director and portfolio manager after leaving the firm earlier this year, effective November 12.

PIMCO has appointed Marc Seidner as a managing director and portfolio manager after he left the firm earlier this year.

Seidner will return to the firm on November 12 in a new role as chief investment officer for non-traditional strategies and head of portfolio management in New York, as well as a member of the investment committee.

He will report to Daniel Ivascyn, group chief investment officer, who recently replaced bond heavyweight William Gross. Gross left the firm he co-founded over 30 years ago to join rival Janus Capital Group in September.

Seidner was a senior portfolio manager at PIMCO from 2009 to 2014 and a member of the PIMCO investment committee.

In his new role he will work with Ivascyn on the oversight of several non-traditional investment teams and will assume general portfolio management responsibilities as part of his new role.

Additionally, Curtis Mewbourne, current head of the firm’s New York portfolio management group, will return to the firm’s Newport Beach, CA, office as a senior member of the firm’s portfolio management team. He is set to join Newport in mid-2015 and will remain as head of the insurance, diversified income and sector fund separate account teams.

Recent changes

PIMCO has seen a number of other high-level moves in recent months, including the departure of former chief executive Mohamed El-Erian, who is said, according to reports, to have left following disagreements with Gross. In addition to naming Hodge as replacement CEO, PIMCO also appointed six new deputy investment chiefs as part of a management restructure.

PIMCO was founded in 1971 and bought by German insurance and financial services giant Allianz in 2000. In May, Frankfurt-listed Allianz reported a fall in operating profit at its asset management arm of 26 per cent, driven largely by net outflows of €21.7 billion ($29.7 billion) from PIMCO.