The head of Canadian portfolio management at Pacific Investment Management Co., Ed Devlin, will leave the U.S.-based bond giant this summer after spending more than a decade there.

Devlin began working at PIMCO in 2006 and is a managing director at the firm, according to his online company biography. He is responsible for shaping the Canadian economic outlook and portfolio strategies for the company, which is owned by massive German insurer Allianz SE.

Before joining PIMCO, Devlin worked around the world for investment banks Lehman Brothers and Merrill Lynch.

Devlin told the Financial Post in an email that he is full-time until June 30, after which he expects to take some time off this summer.

“The only specific plan I have is to ensure a smooth transition of my duties,” he wrote, adding that, post-PIMCO, he has “a bunch of ideas, but no specific plans.”

A spokesperson for the Newport Beach, Calif.-based company said Devlin’s portfolio-management duties will move to a team led by Marc Seidner, managing director and chief investment officer in non-traditional strategies.

That team will include David Braun, managing director and portfolio manager, and Vinayak Seshasayee, who is an executive vice-president and portfolio manager, as well as a member of PIMCO’s Canadian portfolio management team and PIMCO’s Americas portfolio committee.

Also working with them will be Tiffany Wilding, executive vice-president and North America economist, “who will provide continuity in the analysis of Canadian macroeconomic and policy outlook,” spokeswoman Agnes Crane added in an email.

As of the end of 2019, PIMCO was managing more than US$1.9 trillion in assets for central banks, pension funds and individual investors, among others.

Financial Post

• Email: [email protected] | Twitter: