High Yield Vet Joins Team at PIMCO
November 4, 2009
PIMCO has announced plans to enhance its high yield expertise with the addition of Andrew Jessop as an executive VP and portfolio manager.
He will join as a senior member of the firm’s high yield team, effective Nov. 30. Jessop’s most recent role was with Goldman Sachs Asset Management (GSAM) where he was a portfolio manager and co-head of the high yield group. He has more than 22 years of investment experience.
"Given Andrew's significant market experience, he will further strengthen our high yield capabilities and enhance our ability to deliver value to our clients," said William Gross, PIMCO's founder and co-CIO, in a Nov. 4 press release.
GSAM has since combined its high yield bond and leveraged finance teams, said a source familiar with the situation. Rachel Golder, formerly co-head of global credit research, Roberta Goss who was head of the bank loan team and Rob Cignarella, who was a portfolio manager for high yield, are co-heads of the group.
Meanwhile, PIMCO spokesman Mark Porterfield could not be reached by press time for additional details. Jessop will be based in the firm’s Newport Beach, Calif. offices.
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