Pimco, the fixed income investment management giant, has hired Ki Myung Hong as a managing director and head of its Asia Pacific region, based in Hong Kong.

Hong will have management oversight responsibility 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 report to Douglas Hodge, Pimco's chief operating officer (who previously served as Head of Asia Pacific).

Hong has 27 years of financial services experience, and most recently 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.

Previously, he was Asia co-head of credit and rates with a focus on clients for JP Morgan based in Hong Kong, and held senior positions with Bankers Trust over the course of a 13 year career there.

The firm oversaw $1.070.9 trillion in assets under management as at 31 March this year.