PIMCO (Pacific Investment Management Company, LLC) is a global investment management firm focusing on active fixed income management. Headquartered in Newport Beach, California, PIMCO manages assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments and individual investors around the world. As of March 31, 2019, the firm had $1.76 trillion in assets under management and over 2,600 employees working in 17 offices throughout the Americas, Europe and Asia.[3]

Pacific Investment Management Company
Subsidiary
IndustryFinancial services
Founded1971; 48 years ago (1971)[1]
FounderBill Gross[1]
Jim Muzzy
Bill Podlich
Headquarters,
U.S.
Key people
ProductsInvestment management
AUM$1.76 trillion (March 31, 2019)[2]
Number of employees
2600 *[2]
ParentAllianz
Websitewww.pimco.com

Contents

LeadershipEdit

PIMCO appointed Emmanuel Roman as CEO effective November 1, 2016. He succeeded Douglas M. Hodge, who was CEO from 2014 to 2016.[4]

Dan Ivascyn, group chief investment officer (CIO) broadly oversees portfolio management and investment strategy.[5] There are also five other CIOs: Andrew Balls, CIO Global Fixed Income; Mark Kiesel, CIO Global Credit; Scott Mather, CIO U.S. Core Strategies; Marc Seidner, CIO Non-traditional Strategies; and Mihir Worah, CIO Real Return and Asset Allocation.[6]

Roman was awarded the Chicago Booth Distinguished Alumni Award in 2019 in recognition of outstanding professional achievement. [7]

Ivascyn was inducted into the Fixed Income Hall of Fame in 2019 which recognizes leaders and pioneers who have transformed capital markets and established enduring legacies.[8]

HistoryEdit

PIMCO initially functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer's clients. The firm was founded in 1971,[1] launching with $12 million of assets. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Munich, Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.

On September 26, 2014, it was announced that Bill Gross, co-founder and former Chief Investment Officer (dubbed the "Bond King" in the investment arena), was stepping down to join Janus Capital Group.[1] In April 2015, PIMCO announced the hire of former Federal Reserve Chairman Dr. Ben Bernanke as a senior advisor, following in the footsteps of predecessor Federal Reserve Chairman Alan Greenspan.[9]

ReferencesEdit

  1. ^ a b c d Grind, Kirsten; Calia, Michael (26 September 2014). "Bill Gross Leaves Pimco for Janus". Markets. The Wall Street Journal.(subscription required)
  2. ^ a b "Our Firm". PIMCO. Retrieved 11 June 2018 * Includes employees from Gurtin acquisition in January 2019.. Check date values in: |accessdate= (help)
  3. ^ * Includes assets, employees and offices from Gurtin acquisition in January 2019. Assets reflect those managed on behalf of third-party clients and affiliated assets. Fund of funds assets have been netted from each strategy. Assets include $14.3 billion in assets of clients contracted with Gurtin Fixed Income Management, LLC, an affiliate and wholly owned subsidiary of PIMCO.
  4. ^ Gittelsohn John (20 July 2016). "Pimco Names Man Group's Chief Emmanuel Roman as Its New CEO". Bloomberg News.
  5. ^ Childs, Mary (2 December 2014). "Pimco Total Return Withdrawals Slow to $9.5 Billion". Bloomberg Businessweek. United States.
  6. ^ "Firm Leadership". PIMCO. Retrieved September 9, 2018.
  7. ^ https://www.chicagobooth.edu/daa
  8. ^ https://www.prnewswire.com/news-releases/fixed-income-analysts-society-announces-this-years-hall-of-fame-award-winners-300831168.html
  9. ^ "Pimco recruits ex-Federal Reserve chairman Ben Bernanke". The Guardian. 29 April 2015. Retrieved 23 July 2018.

External linksEdit