US - 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 was interim chief executive at the firm that was founded just five years after Weil's birth.
Janus has three discrete units - equity and fixed income specialist Janus Capital Management; Intech Investment Management, whose products seek to capture returns from market volatility; and Perkins, a US value manager.
Weil joins as the Janus Capital Management unit nurtures plans to launch one Asian and one emerging markets equities fund by the end of this year.
It is not clear whether these would be manager-driven, as some funds at Janus are, or instead powered by the recommendations and allocation decisions of its inhouse sector analysts.
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