(Bloomberg) -- Pacific Investment Management Co. appointed Ryota Kawai from Morgan Stanley MUFG Securities Co. as portfolio manager at a time when macro trading is making a roaring comeback in Japan.
Kawai, who was most recently executive director in the fixed-income derivatives - rates trading team at Morgan Stanley, will focus on Japan macro and relative-value strategies, according to an internal memo seen by Bloomberg. He has more than 20 years of experience in interest-rate and currency derivatives trading, having previously also worked at Citigroup Inc. and Deutsche Bank AG, the memo said.
Trading in Japanese assets has sprung back to life after the central bank’s first rate hike in 17 years catapulted interest in the world’s third-biggest bond market and the yen. The Bank of Japan is widely expected to raise rates for a second time later this year, setting off a further boom in trading and demand for investors with expertise in the nation’s assets.
Kawai will report to Robert Mead and Tomoya Masanao, Pimco’s co-heads of portfolio management in Asia Pacific. He will work with the firm’s APAC and global teams, along with US generalist colleagues and hedge fund teams, according to the memo.
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