Bill Gross will soon have a place to stow his bags if he visits Rio. Pimco executives plan to open an office in Rio de Janeiro, Brazil in September 2012, according to Here is the City.

The California-based mutual fund firm does not currently have an office in Latin America, according to the report.

Alec Kersman, the SVP who heads PIMCO's Latin America and Caribbean business, will oversee the new location that will operate as part of PIMCO Latin America Administradora de Carteiras Ltda.

Mohamed A. El-Erian, CEO and Co-CIO of PIMCO, called an office in Brazil an "important and exciting" part of the fund firm's ongoing globalization. 

Edited by: Sean Hanna, Editor in Chief


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