Payden & Rygel, a Los Angeles money manager with $34 billion in taxable fixed-income assets, has hired S. V. Balachander to the new position of senior v.p. and credit strategist. Brian Matthews, managing principal at Payden & Rygel, says he hired Balachander because the firm is growing its asset base and is always looking for good people. He will report to Chris Orndorff, managing principal in charge of credit.
Balachander has 17 years of fixed-income experience. Most recently, he was a high-grade analyst at Allstate, where he also chaired the sovereign credit committee. Allstate expects to fill the position vacated by Balachander in the next month, says Mike Trevino, a firm spokesman.