Fels will be based in Newport Beach, California, reporting to Daniel Ivascyn, PIMCO’s Group Chief Investment Officer.
Said Ivascyn: 'Joachim is a highly regarded global economic expert who will bring tremendous insights and make significant contributions to PIMCO's investment process. He will join what we believe is the most talented and strongest team of portfolio managers in the investment management industry, who have repeatedly demonstrated their skills by consistently delivering value to our clients.'
Fels was a Managing Director and Chief Economist at Morgan Stanley, based in London. During his 19 years with Morgan Stanley, he also held positions including Chief International Economist, Chief Global Fixed Income Economist and Co-Head of European Economics.
Over the past year, PIMCO has hired 28 senior investment professionals and industry experts in areas ranging from diversified fixed income, alternatives, equities and multi-asset strategies, and global macroeconomic specialties. Recent hires include:
- Marc Seidner, Managing Director and Portfolio Manager who re-joined the firm as Chief Investment Officer – Non-traditional strategies.
- Nobel Laureate Economist Professor Michael Spence, a faculty member of New York University Stern School of Business, who is a consultant to the firm on macroeconomic and global policy issues.
- Gene Sperling, a former principal economic advisor to Presidents Clinton and Obama, who is a consultant on U.S. economic policy issues.
- Geraldine Sundstrom, a Managing Director and Portfolio Manager in PIMCO’s Asset Allocation business, joins the firm this week.