Bond giant PIMCO has named a former Goldman Sachs managing director to lead the Australia and New Zealand business.
Samuel Watkins has been named executive vice president, leading the Australia and New Zealand business, effective Monday, the giant fixed-income manager said in a press release. In the role, he will have local oversight of business management functions, PIMCO said.
Watkins, who will be based in Sydney, will be working with Rob Mead, head of PIMCO’s Australia unit and co-head of Asia Pacific portfolio management, on the growth strategy for Australia, the release said. In addition, Watkins will be teaming up with Eric Frerer, who is head of institutional account management, and with Brendon Rodda, who is head of distribution for global wealth management, the release said. Watkins, who will report to Alec Kersman, head of Asia Pacific, based in Hong Kong, the release said.
Goldman Sachs Veteran
Previously, Watkins was with Goldman Sachs, most recently as managing director and head of equity finance product for Asia Pacific, with responsibility for marketing, development and structuring equity products in the region, PIMCO said. He has also held roles at Deutsche Bank, Credit Suisse and Macquarie Bank in Australia, the release said.
The hire comes not long after PIMCO’s 1 April announcement it wouldn't proceed with its restarted plans for its first listed investment trust for Australian investors. The trust, named PIMCO Global Income Opportunities Trust, which would have targeted multiple fixed income sectors globally, was aiming to raise around A$500 million, according to a press release in March. Mead would have been one of the trust’s manager, the release said. In April, PIMCO said there wasn't enough demand due to the current market environment, and as other Australian listed investment trusts' secondary market performance has spurred investor concerns.
PIMCO, which is owned by Allianz S.E., has US$2 trillion in assets under management as of end-March.
