PIMCO Announces 2021 Managing Directors

Newport Beach, California (March 16, 2020) – PIMCO, one of the world’s premier fixed income investment managers, is pleased to announce the promotion of the officers of the firm to Managing Director.

“Our goal is to select outstanding professionals and individuals who can meaningfully contribute to achieving our clients’ investment goals, growing our firm, developing talent and enhancing opportunities going forward,” said PIMCO Chief Executive Officer Emmanuel Roman and PIMCO Group Chief Investment Officer Daniel Ivascyn.

“In order to achieve these objectives, we need to have a Managing Director group that represents a broad collection of skillsets and diverse perspectives across functions and regions, and embodies PIMCO’s Core Values and our commitment to integrity and excellence – the key elements of our culture,” Roman and Ivascyn said.

The following officers have been promoted to Managing Director with these objectives in mind:

Stephen Chang

Mr. Chang is a managing director and portfolio manager in the Hong Kong office, managing Asia portfolios and developing PIMCO’s business in this space. Prior to joining PIMCO in 2018, he was a managing director and head of Asian fixed income for JPMorgan Asset Management, responsible for managing bond portfolios in the region and setting macro and asset allocation strategy as part of the broader emerging market debt team. Previously, Mr. Chang was a senior interest rates and derivatives trader with the Royal Bank of Scotland in Hong Kong and a global fixed income portfolio manager at Fischer Francis Trees & Watts, Inc. in New York. He has 24 years of investment experience and holds a master’s degree in management science from Stanford University and an undergraduate degree in computer science from Cornell University.

Harin de Silva

Mr. de Silva is a managing director and portfolio manager in the New York office. His responsibilities include sourcing, underwriting and managing opportunistic specialty finance investments in the U.S. Prior to joining PIMCO in 2009, he was a managing director at Merrill Lynch with a focus on structured credit. Mr. de Silva previously worked at Credit Suisse First Boston and Prudential Securities, focusing on structured finance, CDOs and credit derivatives. He began his career in the actuarial department at Royal Sun Alliance. He has 25 years of investment experience and holds an MBA in analytical finance from the University of Chicago and a bachelor's degree in applied mathematics from Davidson College in North Carolina.

Marcellus M. Fisher

Mr. Fisher is a managing director and Head of the Americas Trade Support teams partnering closely with our trade floor leadership globally to operate PIMCO’s critical trade floor functions around the world. Mr. Fisher is based out of the Newport Beach office. Prior to joining PIMCO in 2000, he spent 10 years in fixed income operations and in trading in the mortgage arbitrage group at Bankers Trust in New York. He has 30 years of investment experience and holds an undergraduate degree from the State University of New York at Stony Brook.

David Hammer

Mr. Hammer is a managing director in the Newport Beach office and head of municipal bond portfolio management, with oversight of the firm’s municipal investment grade, high yield, taxable, and separately managed accounts. He is the lead portfolio manager on PIMCO’s municipal bond fund complex, including investment grade, high yield, state-specific, closed-end funds, and interval fund. Prior to rejoining PIMCO in 2015, he was a managing director at Morgan Stanley, where he was head of municipal trading, risk management, and research. He has 18 years of investment experience and holds an undergraduate degree from Syracuse University.

Jason Mandinach

Mr. Mandinach is a managing director in the Newport Beach office and head of alternative credit and private strategies within the product strategy group. Prior to joining PIMCO in 2010, he worked in business development for the Chicago Climate Futures Exchange, where he developed derivative contracts on environmental commodities. Previously, he was a vice president on the agency CMO desk at Bear Stearns. He has 14 years of investment experience and holds an undergraduate degree from the University of Delaware.

Sonali Shah Pier

Ms. Pier is a managing director and portfolio manager in the Newport Beach office, focusing on high yield and multi-sector credit opportunities. She is a member of the Diversified Income, High Yield and Crossover teams, and she has served as a rotating member on the firm's Investment Committee and Americas Portfolio Committee. Prior to joining PIMCO in 2013, she was a senior credit trader at J.P. Morgan, trading cash, recovery and credit default swaps across various sectors. She has 18 years of investment experience and holds an undergraduate degree in economics from Princeton University.

Caleb J. A. Pitters, Jr.

Mr. Pitters is a managing director in the New York office and head of the U.S. nonprofit and private family capital team. He was previously head of the internal sales group for institutional clients. Prior to joining PIMCO in 2011, he was a director at Credit Suisse, where he held various portfolio management positions in fixed income and gained experience across the credit markets, working directly with institutional clients. Mr. Pitters previously worked in global fixed income derivatives at UBS and held associate positions at JP Morgan in emerging markets fixed income and at Goldman Sachs in currency and commodities. He has 20 years of investment experience and holds a J.D. from Harvard Law School. He received his undergraduate degree from the School of Foreign Service at Georgetown University and is a member of the Board of Regents at Georgetown.