Newport Beach, California (October 20, 2025) – PIMCO, one of the world’s premier fixed income investment managers with deep expertise in public and private markets, announces that Lotfi Karoui will join the firm as Managing Director, Multi-Asset Credit Strategist. He will be based in PIMCO’s office in New York.
As Multi-Asset Credit Strategist, Mr. Karoui will work closely with PIMCO’s senior portfolio managers in both public and private markets, the firm’s Investment Committee and Portfolio Implementation teams, analyzing markets and client portfolios to ensure alignment with strategic views across different areas of credit. He will also work closely with PIMCO’s Client Management teams to deliver customized solutions to PIMCO clients.
“Lotfi’s expertise and unique insights into all facets of credit in public and private markets will be an invaluable input into our investment process, strategies and portfolio construction,” said Dan Ivascyn, PIMCO’s Group Chief Investment Officer. “His ability to analyze markets to develop credit strategies for client portfolios will be an invaluable addition to PIMCO’s unrivalled global team of portfolio managers and credit research analysts around the world.”
“PIMCO has a proud legacy of providing clients with thoughtful analysis on opportunities and risks in credit, from investment grade to high yield, structured credit to distressed debt. Lotfi’s insights will be an exciting addition to our deep expertise in this critical area,” said Manny Roman, PIMCO’s Chief Executive Officer.
In addition, Mr. Karoui will also be Co-Head of Client Solutions and Analytics, partnering with Jamil Baz, Managing Director. Together, they will lead the CS&A team as they deliver customized solutions and analytics to clients. He will work with PIMCO’s client and product teams to develop proprietary tools, data, and frameworks from credit insights and strategies and will also engage clients on complex investment solutions.
Biography - Lotfi Karoui
Mr. Karoui is joining PIMCO as Managing Director, Multi-Asset Credit Strategist and Co-Head of Client Solutions and Analytics. He was most recently the chief credit strategist of Goldman Sachs, where he was responsible for research and views on global credit markets. He joined Goldman Sachs in 2007, was named managing director in 2015 and named partner in 2025. He publishes regularly on the state of fixed income markets and asset allocation. Prior to joining Goldman, Mr. Karoui taught undergraduate and graduate level courses in finance and operations research at McGill University and HEC Montreal. His academic research spans fixed income markets, interest rate models and macro-finance. It has been recognized with awards from the Financial Mathematics Institute of Montréal and published in several leading academic journals such as the Journal of Economic Dynamics and Control, the Journal of Financial Economics, the Journal of Derivatives, and Management Science. Born and raised in Tunisia, Mr. Karoui graduated from the Institut des Hautes Études Commerciales in Carthage, Tunisia with a bachelor’s degree in finance in 2000. He earned a master’s degree in financial engineering from HEC Montréal in 2002 and a PhD in Financial Economics from McGill University in 2007. He is fluent in Arabic and French.
