PIMCO, a global investment management firm, has named Craig Dawson as Head of Europe, Middle East and Africa, replacing Bill Benz who is retiring at the end of June 2016.

Dawson, a Managing Director and Head of PIMCO's Strategic Business Management, will have oversight responsibility for the firm's business in the region, including PIMCO's London, Munich, Milan, Zurich and Amsterdam offices.

Dawson, who has 21 years of investment experience, will relocate to London from Newport Beach, California.

He joined PIMCO in 1999, and has held leadership positions across several key areas of the firm.

Previously, he was head of PIMCO's business in Germany, Austria, Switzerland and Italy, and Product Management for Europe.

Prior to joining PIMCO, Dawson was with Wilshire Associates, an investment consulting firm.

Dawson said: "I look forward to continuing the great success that Bill and the team have built over the years in their continued focus on providing investors with the performance, market insights and client service that investors have come to expect from PIMCO around the world."

PIMCO's EMEA business comprises 460 employees in five offices, including two tradefloors, and almost 200 investment professionals managing $520bn in assets as of December 31, 2015.

Benz retires after a 30-year career at the company.

Apart from being Head of PIMCO Europe, Middle East and Africa (EMEA), he is the CEO of PIMCO Europe, the Chairman of PIMCO Funds Global Investors Series and is a former member of PIMCO's executive committee.

Douglas Hodge, Managing Director and PIMCO's CEO, said: "Bill has built a leading business in the UK and across Europe, the Middle East, and Africa, which Craig is perfectly placed to build on given his combination of experience in Europe and oversight of PIMCO's strategic initiatives."