PIMCO

Pacific Investment Management Company
Subsidiary
Industry Financial Services
Founded 1971 (1971)[1]
Founder Bill Gross[1]
Jim Muzzy
Bill Podlich
Headquarters Newport Beach, California, U.S.
Key people
Products Investment management
AUM $1.77 trillion, (31 March 2018)[2]
Number of employees
 2200+[2]
Parent Allianz
Website www.pimco.com

Pacific Investment Management Company, LLC (commonly called PIMCO) is an American investment management firm focusing on fixed income and headquartered in Newport Beach, California, with 2,300 employees working in 14 offices across 11 countries, and $1.77 trillion in assets under management as of 31 March 2018. The company provides mutual funds and other portfolio management and asset allocation services for millions of investors worldwide. PIMCO offers several different investment products, including core bonds and credit, structured credit, alternatives, real assets, equities and currencies.

PIMCO oversees investments on behalf of millions of clients, including retirement savers, public and private pension plans, educational institutions, central banks and government agencies, foundations and endowments and financial intermediaries among others.

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.[3]

Leadership

PIMCO appointed Emmanuel Roman as CEO effective 1 November 2016, succeeding Douglas M. Hodge[4]. Dan Ivascyn, Group Chief Investment Officer (CIO),[5] broadly oversees portfolio management and investment strategy. 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]

History

The firm was founded in 1971,[1] launching with $12 million of assets. Previously, PIMCO had functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer's clients. 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 26 September 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]

References

  1. 1 2 3 4 Grind, Kirsten; Calia, Michael (26 September 2014). "Bill Gross Leaves Pimco for Janus". Markets. The Wall Street Journal. (subscription required)
  2. 1 2 "Our Firm". PIMCO. Retrieved 11 June 2018.
  3. ↑ "Pimco recruits ex-Federal Reserve chairman Ben Bernanke". The Guardian. 29 April 2015. Retrieved 23 July 2018.
  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.
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