U.S. bond house Pimco is hiring a former senior J.P. Morgan banker as its country head in Switzerland, finews.com has learned.
Pimco, the world's largest bond fund manager by assets, is naming Patrick Beuret as executive vice-president and country head of Switzerland, a source familiar with the hire told finews.com. A spokeswoman for Pimco confirmed the hire of Beuret, who replaces Juerg Rimle, who defected for the top Swiss job at rival Fidelity International, as finews.com reported.
Beuret was country head in Switzerland for J.P. Morgan Asset Management for more than three years. Previously he was a partner at Bellevue Asset Management and head of international clients at Julius Baer. Most recently, he was with Swiss fintech Loanboox for four months until December.
At Pimco, he is tasked with developing strategic growth and will report to Ryan Blute, who runs wealth management in the region, and to Frank Witt, who runs Pimco in Germany, Switzerland, Austria, Benelux, and Scandinavia. Pimco has hired more than 1,000 people since 2017, including more than 200 investment experts.
