Allianz Global Investors (AllianzGI) has hired a chief investment officer and a senior portfolio manager in the US for its fixed income teams in Boston and New York.

Carl W. Pappo Jr. and Frank Salem both join from Columbia Threadneedle and will launch AllianzGI's US Core, Core Plus, and Liability Driven Investing (LDI) strategies.

Pappo, who has 25 years of experience, was lead portfolio manager and head of core fixed income at Columbia Threadneedle, managing assets across institutional portfolios and mutual funds. He will report directly to Franck Dixmier, head of fixed income.

Salem was responsible for building out the LDI capability at the same firm. The duo has worked closely together for the past 10 years.

Andreas Utermann, chief executive and global chief investment officer said: 'We are delighted that Carl Pappo and team have chosen to join AllianzGI as we continue on this next phase of growth by building out our US fixed income capability.

'Carl’s deep expertise in US fixed income will be invaluable as we look to him to lead this effort.'