PIMCO has appointed a president for its Japan office. Makoto Takano, who joined PIMCO in October 2001 as an executive VP, assumed the role of president of PIMCO Japan, taking over the firm's Japanese business operations on April 1.

The position of PIMCO Japan president is newly created. Scott Roney, who oversaw PIMCO's operations in Japan, has returned to PIMCO's headquarters in Newport Beach, Calif., as a senior client relationship manager for some of PIMCO's larger clients, said Mark Porterfield, a spokesman for the firm.

PIMCO Japan has recently realized tremendous growth. In the past six months, assets under management have grown nearly 80% to about $6 billion. According to William Thompson, PIMCO's CEO, the firm has considered Japan one of its most important markets for a while. The $6 billion in Japanese assets that the firm manages is more than 50% of its total Asian assets under management, which stand at approximately $11 billion.

Four years ago, PIMCO introduced the PIMCO Total Return Fund in Japan, and it was the first mutual fund sold there. Sold through Nikko Securities, the Japanese assets of that fund have grown to $1.4 billion.

Last October, PIMCO launched another fund for Japanese investors in conjunction with Merrill Lynch. And later this year, the firm will begin actively trading bonds at its Tokyo office, according to Thompson.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.