Pimco to hire 20 people to target US$17.4 trillion Asian wealth

Hong Kong

PACIFIC Investment Management Co is seeking to expand in an increasingly affluent Asia.

The US$1.5 trillion money manager is in the process of hiring more than 20 people in marketing, operations, legal and compliance teams in the next two years to help cover major retail banks in Hong Kong and Singapore. It also intends to target newer markets such as Thailand, Malaysia and the Philippines, according to Eric Mogelof, Hong Kong-based head for the Asia-Pacific at Pimco.