The global investment manager has appointed a new chief executive based in California, effective November 1.

PIMCO, the global investment management giant, has named Emmanuel Roman as its next chief executive, taking over from current CEO Douglas Hodge.

Hodge will become a managing director and senior advisor when Roman joins PIMCO on November 1 in Newport Beach, CA.

Roman was previously CEO at the alternative asset manager Man Group, a role he assumed in 2013 (Luke Ellis has become CEO at Man Group). He also previously spent 18 years at Goldman Sachs, served as co-CEO at GLG Partners and was also chief operating officer at Man Group in 2010 following the firm’s acquisition of GLG.

PIMCO has 13 offices in 12 countries throughout North America, Europe and Asia. The firm is owned by Allianz.