PIMCO, a US-based investment management firm, has hired Ki Myung Hong as managing director and head of the firm's Asia Pacific region based in Hong Kong.

Mr Hong will be responsible for the firm’s business in the region, including PIMCO’s Hong Kong, Singapore, Sydney and Tokyo offices which will report to him. He will also become a member of the firm’s global operating committee, and will report to Douglas Hodge, PIMCO’s chief operating officer.

Prior to this, Mr Hong held senior positions for the Asia Pacific region with Bank of America Merrill Lynch based in Hong Kong, including regional vice chairman and president of Asia Pacific.

Mohamed El-Erian, CEO and co-CIO of PIMCO, said: “Kim’s significant skills, experience and regional market knowledge will further strengthen our efforts to serve clients throughout the Asia Pacific region, and his addition to PIMCO brings an important new, seasoned resource to lead our activities in Asia. We are delighted to have such an important and seasoned resource join our firm.”