Janus hires Pimco manager as CEO

Denver-based asset manager Janus Capital Group has hired Richard Weil from rival Pimco as its chief executive officer.

Weil will join the $152bn manager at the start of February, and will also sit on its board of directors. While at Pimco for 13 years - including nine years as its chief operating officer - Weil founded the firm's German business. Most recently, he was head of Pimco Advisory, a member of Pimco's executive committee, and member of the board of trustees of Pimco's funds. He led the firm's non-US business which included an office in London among seven centres globally. Janus Group chairman Steve Scheid says Weil was a "perfect fit" for Janus. Weil, 46, replaces Tim Armour, who wa...