Pimco, the US bond manager, has hired a proprietary trader from Goldman Sachs to the new role of head of European credit strategy, in a rare example of a fund manager hiring a trader from an investment bank.

Luke Spajic spent about 18 months at Goldman Sachs, where he specialised in macro trading across global credit and emerging markets. Before that he worked at Highbridge Capital, a hedge fund owned by JP Morgan, where he focused on trading non-US credit.