Pimco Hires Former Credit Agricole Japan Trading Head

Pimco has hired former Credit Agricole Japan trading head Sora Amada as the talent battle in one of Asia's most active financial centers intensifies. According to Sina Finance, Amada will join Pimco in late September as a portfolio manager and executive vice president, reporting to Pimco Japan co-head Tomoya Masanao. A Pimco spokesperson confirmed the memo. Japanese institutional investors have been reshaping their portfolios as rising domestic interest rates change the relative appeal of domestic and overseas assets. Wealthy Japanese investors have also been chasing yield, and multinational firms including investment funds and Wall Street banks see Japan as a market with significant room to expand in private equity, credit, and other products. In the memo, Masanao said strengthening Pimco's investment and portfolio management team remains a priority as Japan's bond market enters a new critical phase and client demand continues to change.