Investment behemoth PIMCO just made 2 big hires

PIMCO, the behemoth investment firm, just announced two big hires.

The Newport Beach, Calif. firm hired Danielle Luk as a portfolio manager from Credit Suisse, where she traded options as a director.

Before that, she was a senior trader at Morgan Stanley on its structured rates team. She will focus on interest rate derivatives in her new role.

PIMCO also hired Tiffany Wilding as senior vice president and US economist.

She previously worked at Paul Tudor Jones' hedge fund, Tudor Investment Corporation, where she was the director of global interest rate research. She also previously worked at Morgan Stanley and the Federal Reserve Bank of New York.

"Danielle and Tiffany are examples of the top industry talent we continue to add to our global team of investment professionals," Dan Ivascyn, group chief investment officer, said in a statement.

"So far in 2016, PIMCO has hired more than 140 new employees around the world, in a broad range of areas from portfolio management to business development."

Those additions stand in contrast to layoffs Pimco rolled out earlier this year, when it cut about 3% of its its workforce, or 68 jobs, in a restructuring of its investment strategies.