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Friday, June 28, 2013

Pimco Says So Long to a Top Equities Exec

News summary by MFWire's editors

The head of emerging markets equity research for Pimco[profile] , John Longhurst, left the firm, Bloomberg reported.

Longhurst joined Pimco in 2011 and worked in the industry for almost 30 years. Longhurst left the industry for "personal reasons," a spokesman for the company stated.

Longhurst's research responsibilities will be taken over by Martin Moorman, who has over 20 years of experience in industrial company research. Bloomberg writes that his exit comes five months after Neel Kashkari, who oversaw Pimco's expansion into stocks and served as head of global equities, left to a return to a career in public service. Pimco has been working to reduce its dependence on fixed-income, which consists of 90 percent of its strategies.

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Edited by: Casey Quinlan

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