Emmanuel (Manny) Roman (52) will become Chief Executive Officer at Pacific Investment Management Company LLC (PIMCO), an Asset Management subsidiary of Allianz, as of 1 November 2016. He will take over responsibilities from Douglas (Doug) Hodge (58), who steered PIMCO through a phase of rapid change.

In order to leverage PIMCO’s strengths, the firm’s Managing Directors in consensus with Allianz initiated a process to bring a new CEO on board to position the firm for long-term success. To lead this effort, the Managing Directors have appointed Emmanuel Roman as Chief Executive Officer. Douglas Hodge will assume a new role as Managing Director and Senior Advisor and work with Emmanuel Roman to ensure a smooth transition of executive responsibilities thus providing continuity.

Jacqueline Hunt, Member of the Board of Management of Allianz SE, responsible for Asset Management and US Life Insurance, said: “We are delighted to welcome Manny Roman to PIMCO. He is a highly respected industry leader with both the investment and management skills needed to drive PIMCO’s business forward. Doug Hodge has done a terrific job of leading PIMCO through what was a challenging time. We thank him very much and wish him success in his new role.”

Emmanuel Roman has nearly 30 years of experience in investment management, with expertise in fixed income, alternatives, and other asset classes, as well as proven executive leadership. As CEO of Man Group PLC he headed one of the world’s largest publicly-traded alternative asset managers. Emmanuel Roman worked for more than 18 years at Goldman Sachs, where he was Co-Head of Worldwide Global Securities and Co-Head of the European Services Division. He became Co-Chief Executive Officer at GLG Partners, Inc. in 2005 and Chief Operating Officer of Man Group in 2010 following the firm’s acquisition of GLG.