A veteran Pimco [profile] PM is retiring this fall, and Bill Gross' successor will help fill that PM's shoes.

Daniel Ivascyn PIMCO Group Chief Investment Officer

Dan Ivascyn, group chief investment officer at Pimco, confirms that he and managing director director Alred Murata are joining the PM team for the $2.3-billion, four-star, silver-rated Pimco Diversified Income Fund. Eve Tournier, executive vice president and head of European credit portfolio management, will continue to PM the fund, while 17-year Pimco veteran and managing director Curtis Mewbourne, 49, will retire from the firm on September 30.

Bloomberg covered the news.

Mewbourne is a former Lehman Brothers and Salomon Brothers bond trader and is an alumnus of UPenn. He was nominated for Morningstar's U.S. Fixed Income Manager of the Year award in 2010. He is also a PM on the $36.52-million ETF version of the Pimco Diversified Income Fund and on the $310.5-million, three-star, neutral-rated Pimco Floating Income Fund.

Ivascyn lauds Mewbourne for making "invaluable contributions to the firm throughout his career at Pimco."

"Pimco is an amazing place," Mewbourne states. "It has been truly a privilege to work with some of the most talented and hard working professionals in the industry." 

Edited by: Neil Anderson, Managing Editor


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