Deals & PeopleJanuary 7, 2010

Former PIMCO Exec to Head Janus

Janus Capital Group Inc. said that Richard M. Weil has been appointed CEO and a member of the board of directors, effective February 1.

Reported by Rebecca Moore

Weil comes to Janus after 13 years with PIMCO, where he most recently served as global head of PIMCO Advisory, a member of PIMCO’s executive committee, and a member of the board of trustees of the PIMCO Funds, according to an announcement. He was PIMCO’s COO between 2000 and 2009.

Before joining PIMCO in 1996, Weil was with Bankers Trust Global Asset Management and Simpson Thacher & Bartlett LLP in New York.

“The breadth of his leadership experience, deep understanding of the investment industry and global perspective were all key factors behind the board’s decision. These characteristics not only complement Janus’ key strengths, they also align with the firm’s long-term strategic priorities,” said Janus Capital Group Chairman Steve Scheid, in the announcement.

Weil succeeds Janus Capital Group director Tim Armour, who has served as interim chief executive officer since July.