PIMCO has hired David Forgash for the newly-created role of head of European high yield portfolio management, overseeing the firm's investments across the European high yield market.
Forgash (pictured), who also takes up the role of executive vice president, joins PIMCO from US hedge fund firm Millennium Capital Partners, where he served as a European credit-focused senior portfolio manager.
In addition to Millennium, Forgash's 23-year investment career has included senior credit roles at Morgan Stanley, RBS Greenwich Capital and Lehman Brothers.
Based in London, he will report to managing director and head of European credit portfolio management Eve Tournier.
Commenting on the appointment, Tournier said: "We are excited to welcome David to the team.
"David brings significant experience and knowledge of the European high yield market to our business.
"He will be a great addition to our investment team and will enhance our ability to provide investment opportunities to our clients."
Effective from 1 August
10 new members
Strategic partnership between firms
12 months' notice