PIMCO will open its first Latin American office, in Rio de Janeiro, Brazil, in September 2012.
The new office will be PIMCO’s first location in Latin America and will be led by Alec Kersman, a Senior Vice President and head of PIMCO’s Latin America and Caribbean business.
“We expect this office to be the center of gravity of our Latin American operations and activities. Initially the office will support client servicing and business development efforts,” Kersman told Money Management Executive. “We also plan to have members of our research teams in Brazil and eventually members of our portfolio management team.”
According to Kersman, establishing an office in the region is a key step for PIMCO's Latin America and Caribbean efforts that will “further enable us to get closer to our clients, and increase the range of investment opportunities in which our firm can participate."
PIMCO will operate in Brazil as PIMCO Latin America Administradora de Carteiras Ltda., and will be regulated by the Comissao Nacional de Valores (CVM).