(Bloomberg) -- Seeking to bolster its team after co-founder Bill Gross left last year, Pimco announced it hired Joachim Fels as global economic adviser.

Fels, who was previously chief economist at Morgan Stanley, will report to Pimco’s Group Chief Investment Officer Daniel Ivascyn, according to a statement today from the Newport Beach, California-based firm. Pimco brought Paul McCulley back to the firm in May 2014 in a newly created role as chief economist, reporting to Gross.

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