PIMCO a subsidiary of German insurer Allianz, has appointed high-profile hedge fund manager Geraldine Sundstrom as managing director and portfolio manager in her first major role since leaving hedge fund manager Brevan Howard.

PIMCO, a subsidiary of German insurer Allianz, has appointed high-profile hedge fund manager Geraldine Sundstrom as managing director and portfolio manager in her first major role since leaving hedge fund manager Brevan Howard.

Based in London, Sundstorm will assume a senior leadership role in the firm’s asset allocation area, reporting to Mihir Worah, deputy chief investment officer and head of the real return and multi-asset portfolio management teams, PIMCO said in a statement.

It is expected she will join no later than first quarter 2015, following a leave from her previous employer.

She was previously a partner at Brevan Howard, where she led the emerging markets strategies master fund, growing it to more than $2.7 billion in assets under management. Before that, she was a portfolio manager at Moore Capital. She has also held senior fixed income research roles with Citigroup Global Investments and Pareto Partners.

Sundstrom left Brevan Howard after her $2 billion emerging markets fund was axed by the firm earlier this year following huge losses. The fund was a victim of a downturn in emerging markets in 2013 due to uncertainty caused by the US Federal Reserve's plan to taper its quantitative easing programme.

“Geraldine is another great senior PM hire for PIMCO. She represents an important addition of demonstrated leadership and skill as we continue to build out our multi-asset group for the benefit of our clients,” said Bill Gross, chief investment officer of PIMCO.