Man Group, the world's second-largest hedge fund, has hired former Pimco international bond chief Sudesh Mariappa as a senior portfolio manager, according to reports.
He has been hired to help lead a major push into fixed income trading, according to the Financial Times. Mariappa previously oversaw Pimco's $85bn global bond funds until 2010, as head of global portfolio management. The FT cites a memo sent to staff about the appointment which said Mariappa will be joining GLG to develop its absolute return fixed income offering. Sources close to the situation told the FT that Mariappa had been given a wide-ranging brief to launch a series of bond-focused funds in the coming months.
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