Sovereign Analyst / Economist Emerging Markets
We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $1.88 trillion in assets for clients around the world. PIMCO has over 2,800 employees in 17 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.
PIMCO is one of the world's premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities. Position Description:
PIMCO is seeking to recruit a Senior Vice President-level Emerging Markets economist and portfolio economist for its London based Emerging Markets team to augment the existing emerging markets ("EM") portfolio management effort. The hire would specialize in EM markets broadly, but would have a focus on analyzing sovereigns in Central Eastern Europe, Middle East and Africa (CEEMEA). The position requires primary expertise in analyzing macro-economic trends for sovereigns with a focus on portfolio strategy and implementation in sovereign credit, local rates and currency markets. Furthermore, deep knowledge of portfolio/risk management, as well as a strong ability to compare and contrast EM balance sheets is also expected.
• Help to formulate EM economic views in CEEMEA as well as broader EM strategy within our Emerging markets portfolio committee. This involves updating the PM team on high frequency EM macro variables including inflation, growth and balance of payments information as well as more cyclical and structural shifts for sovereigns in that region.
• Detailed balance sheet analysis is also required, particularly for distressed sovereigns. The candidate must demonstrate the ability to conduct thorough scenario analysis for IG as well as HY EM sovereign names including stress testing their own assumptions against market consensus. Simple economic modelling and forecasts of inflation trends and assessments of CB reaction functions.
• Comparing and contrasting investment opportunities across EM capital structures, looking to capture relative value opportunities in CEEMEA sovereigns as well as frontier markets. Focus on opportunities in sovereign credit, including quasi sovereigns as well as local markets.
• Contribute to research through on the ground country trips as well as frequent market updates with a focus on investment recommendations and implementable strategy.
• Support new business development through marketing and client engagements globally. Position Requirements:
• Minimum of five years' experience in EM economics with a focus on the CEEMEA region.
• Extremely strong quantitative background.
• Tangible experience in analyzing EM sovereign balance sheets and demonstrable skills in implementing portfolio investments ideas.
• Masters or PhD in Economics or Finance, IFI experiences are a plus.
Critical Competencies for Success
• Demonstrated skill in sovereign balance sheet analysis with particular experience in EM economies on behalf of either sell-side or buy-side firms
• Highly quantitative approach to analysis
• Ability to think about how to structure and optimize portfolios
• Ability to work closely with Portfolio Managers, Analysts and Account Managers in a collaborative manner
• Effective client presentation skills and ability to articulate PIMCO philosophy and process to support the franchise
• Strong communications skills, internally and externally. Manage the flow of information from the markets to internal constituencies.
Other Personal Characteristics
• A collegial work style, sense of humor, and a thick skin
• Strong work ethic, intellectual honesty and curiosity, and ability to succeed in a high intensity environment
• Combines strength of convictions with low ego needs
• Able to remain calm and objective in the face of periods of excessive optimism or extreme pessimism in the capital markets
• Unassailable ethics and integrity Benefits:
PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and wellbeing of you and your family.