Former PIMCO Exec to be Janus Chief

January 7, 2010 ( - The Janus Capital Group Inc. board of directors has announced that Richard M. Weil has been appointed chief executive officer and a member of the board of directors, effective February 1, 2010.

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 the announcement.  He was PIMCO’s chief operating officer between 2000 and 2009.

As chief operating officer of PIMCO, Weil also was a member of the Allianz Global Investors executive committee.  He was previously the general counsel to PIMCO Advisors L.P., formerly PIMCO’s publicly listed parent company, which was sold to Allianz A.G. in 2000.  

Before joining PIMCO in 1996, Weil was with Bankers Trust Global Asset Management and Simpson Thacher & Bartlett LLP in New York.  He holds a J.D. from the University of Chicago Law School and a Bachelor of Arts degree in Economics from Duke University.

“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 2009.