PIMCO, Towers Watson, Tesco Pension Investment, Association of Investment Companies, Barnett Waddingham, Insight Investment, Investec Asset Management, Carmignac Gestion Group, General Atlantic, KNEIP, Equiniti, Alliance Trust Investments

PIMCO – Chief executive and co-CIO Mohamed El-Erian has stepped down and will leave the company in mid-March. No reasons were given for his departure. Douglas Hodge, managing director and COO, will take over as chief executive. Andrew Balls, a managing director of the London office, and Daniel Ivascyn, a managing director at the Newport Beach office, will serve as his deputies. PIMCO’s founder William Gross will continue as CIO. Craig Dawson, a managing director and current head of PIMCO Germany, Austria, Switzerland and Italy, will become head of strategic business management.

Towers WatsonJane Murray has been appointed managing director of Technology and Administration Solutions (TAS). She was formerly UK client services director and joined Towers Watson – then Watson Wyatt – in April 1996. As part of other structural changes at the consultancy, Richard Sard is now head of client services for TAS, while Colin Fowler has been appointed as TAS professional excellence leader for the EMEA.

Tesco Pension InvestmentDavid Brickman has joined the supermarket’s pension manager, in charge of credit. He will report to Jon Cunliffe, head of fixed income, according to a Tesco spokesperson. Brickman most recently worked at Aerion Fund Management and was head of European credit strategy at Lehman Brothers for four years prior to the bank’s collapse in 2008. Before joining the investment bank, he spent nearly three years at BNP Paribas.

Association of Investment Companies (AIC) – Simon Crinage, managing director and head of investment trusts at JP Morgan Asset Management, and Harry Morgan, head of private investment management at Thomas Miller Investment, have been appointed to the board. David Barron and Gill Nott have retired following 10 years of service each. Peter Arthur and David Thorp have been re-elected and remain deputy chairmen, along with Chris Russell.

Barnett WaddinghamPaul Latimer has been appointed head of pension administration at the UK-based consultancy. He succeeds fellow partner Nuala Hedges, who stepped down from the position at the end of 2013. Latimer, who has worked at Barnett Waddingham for 27 years, was promoted to partner in 2004. He is also currently chairman and membership secretary of the NAPF North London group.

Insight InvestmentTarik Ben-Saud has been appointed head of Asset Solutions in a newly created position. Ben-Saud previously worked for 15 years at BlackRock and predecessor firm Barclays Global Investors as head of LDI and client strategy. Before then, he managed the index equity strategy and derivatives teams.

Investec Asset ManagementMarco Orsi has been appointed Italian sales director, supporting the company’s expansion in both the institutional and adviser channels. He joins from Allianz Global Investors, where he was head of retail distribution for Italy. Before then, he held a similar role for Italy, Greece, Turkey, Malta and Cyprus at BNP Paribas Asset Management.

Carmignac Gestion GroupMichael Hulme has joined as a commodity equities fund manager, assuming control of the €670m Carmignac Commodities fund. He takes over from David Field, who has taken a sabbatical. Before joining Carmignac Gestion, Hulme managed the Lombard Odier Global Energy fund.

General AtlanticJan-Michiel Hessels, former chairman of NYSE Euronext, has joined the firm as a special adviser in Europe based in the Netherlands. Hessels currently sits on the board at IntercontinentalExchange Group and on the supervisory board at Royal Boskalis Westminster.

KNEIP – The service provider for the production and disclosure of legal, regulatory and contractual information for the fund industry has appointed Stephanie Noel as head of operations. She joined KNEIP in 2001 as a client service coordinator.

EquinitiSuzie Rudzitis has been appointed managing director of Equiniti Pension Services. She succeeds Paul Bingham, who has stepped down after a decade in the role. Rudzitis joins from Berwin Leighton Paisner, where she was COO of the Managed Legal Services division.

Alliance Trust InvestmentsDan Daldry has been appointed co-manager of the Dynamic Bond and Monthly Income Bond funds, while Kenny Watson will assume a co-management role for the Sustainable Corporate Bond fund. Both joined Alliance Trust Investment’s fixed income team recently.