Pimco Adds Four More Deputy Chief Investment Officers After Mohamed El-Erian Exit

Four more deputy chief investment officers have been appointed at Pacific Investment Management Company taking the total to six as the asset management giant reshuffles the deck of senior staff in the wake of former boss Mohamed El-Erian's sudden departure.

Mark Keisel, Virginie Maisonneuve, Scott Mather and Mihir Worah have all been promoted to deputy CIOs at Pimco. They join Dan Ivascyn and Andrew Balls who had been appointed as deputy CIOs shortly before.

"Our six Deputy CIOs demonstrate the strength, depth and breadth of investment talent at Pimco," said Bill Gross, founder and chief investment officer.

"Individually and as a team they have delivered for clients consistently, and they will now help lead Pimco's investing excellence into the future."

Mohamed El-Erian quit his two roles as chief executive officer and co-chief investment officer of Pimco in mid-January. He had been seen as the clear heir to Gross.

No reason was given for his resignation, but he will stay on as a consultant at Pimco's parent company Allianz Group, the German insurer.

He had been tipped in 2012 as a candidate for Egyptian prime minister, as the troubled country juggles political and economic reform after the toppling of despot Hosni Mubarak in 2011.

However he insisted at the time that he had not been approached and would not be interested in the position.

"Mohamed El-Erian helped set the strategic direction of the company and it certainly makes a difference when someone who is used to making such headlines leaves a company," Jeff Tjornehoj, senior research analyst at Lipper, told Reuters at the time.

Allianz replaced El-Erian with Douglas Hodge, current managing director and chief operating officer of Pimco, as chief executive.

Pimco manages $1.97tn (€1.45tn, £1.2tn) in assets.