Janus Capital has selected Richard M. Weil, the former chief operating officer of PIMCO, as chief executive officer.

“Dick was PIMCO’s chief operating officer for nine incredibly successful years,” said Janus Chairman Steve Scheid. “His accomplishments include leading the development of their global business and founding their German business. He is a proven leader with a strong vision for what makes a company and its people successful. The breadth of his leadership experience, deep understanding of the investment industry and global perspective were all factors behind the board’s decision.”

Weil said he decided to accept the position because he foresees a “very bright future” for Janus due to its “very strong investment culture, excellent performance and deep commitment to serving its clients through each of its Janus, INTECH and Perkins teams.”

Before joining PIMCO in 1996, Weil was with Bankers Trust Global Asset Management and Simpson, Thatcher & Bartlett. He succeeds interim CEO and Director Tim Armour, who has held the position since June 2009.

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