PIMCO recruits alternatives specialist

PIMCO, one of the world's largest fixed-income investment managers, has strengthened its private wealth team with a new hire.

Lachlan Pullar has joined PIMCO and reports to David Orazio, the recently appointed Australian head of global wealth management.

The recruit is tasked with distributing alternative credit and hedge fund products.

The appointment comes as the US asset manager moved to beef up its product lineup aimed at the lucrative and intensely competitive wealth market.

Previously, Pullar was a partner at AIPX, an Australian firm with a global network of alternative asset managers and a strategic partner of US fintech CAIS.

At AIPX, he played a crucial role in launching the Australian funds management business and leading the local distribution efforts for several global alternative managers.

These include The Carlyle Group, Stonepeak, Schonfeld Strategic Partners and Cota Capital.

Pullar's arrival follows several recent moves at PIMCO.

Two months ago, Orazio replaced Brendon Rodda, who left PIMCO for a distribution role at Allianz Retire+.

At around the same time, PIMCO announced that Sam Watkins would take over from Rob Mead as head of Australia at the end of the year.

Mead is set to retire after more than 20 years with the fund manager.

Last year saw the departure of two longstanding private wealth operatives.

After 12 years with PIMCO, John Valtwies, a senior vice president of the private client group, left to join Blue Owl, the $250 billion alternative asset manager, as a principal.

His colleague, Joe Jin, a fixed-income specialist and senior vice president, departed to take on a principal role at TPG.