Man Group Hires Ex-Pimco Bond Chief in Fixed-Income Drive

Man Group has hired Pimco’s former global head of portfolio management Sudi Mariappa, as the embattled hedge fund firm looks to revive its fortunes and win back clients with a major push into bond funds.

Reported by Laurence Fletcher, Mariappa, who was at Pimco, the world’s largest bond fund manager, from 2000 to 2010 and who worked with high-profile founder Bill Gross on its hedge funds, will head up the launch of a series of bond funds at Man’s (EMG.L) manager-driven GLG unit.

Big-name hedge fund firms including Man and Brevan Howard believe that bond trading is attractive at present, despite the ultra-low or negative yields on offer in some developed markets.

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