PIMCO

PIMCO (officially Pacific Investment Management Company LLC) is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities, commodities, asset allocation, ETFs, hedge funds, and private equity. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. PIMCO’s headquarters are in Newport Beach, California; the firm has over 3,100 employees working in 22 offices throughout the Americas, Europe, and Asia.[4] PIMCO and Allianz Global Investors manage around €2.5 trillion of third-party assets.[5]

Pacific Investment Management Company LLC
TypeLimited liability company[1]
IndustryFinancial services
Founded1971 (1971)[2]
FounderBill Gross[2]
Jim Muzzy
Bill Podlich
Headquarters
Newport Beach, California
,
U.S.
Key people
ProductsInvestment management
AUMUS$2.0 trillion (March 31, 2022)[3]
OwnerAllianz
Number of employees
3,145+[4]

History

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,[2] 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.[6][7]

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.[2] 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.[8]

Leadership

PIMCO appointed Emmanuel Roman as CEO effective November 1, 2016.[9] He succeeded Douglas M. Hodge, who was CEO from 2014 to 2016.[10]

Dan Ivascyn, group chief investment officer (CIO) broadly oversees portfolio management and investment strategy.[11] 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.[12]

References
  1. "Pacific Investment Management Co LLC - Company Profile and News". Bloomberg News.
  2. Grind, Kirsten; Calia, Michael (26 September 2014). "Bill Gross Leaves Pimco for Janus". Markets. The Wall Street Journal.(subscription required)
  3. "Our Firm". PIMCO. Archived from the original on 2 May 2022. Retrieved 24 May 2022.
  4. "Our Firm (Careers)". PIMCO. Archived from the original on 24 May 2022. Retrieved 24 May 2022.
  5. "The Allianz Advantage". www.allianzcapitalpartners.com.
  6. McCrum, Dan (11 September 2011). "Allianz's decision on Pimco raises eyebrows". Financial Times.
  7. Ablan, Jennifer; Ten Wolde, Harro (6 September 2011). "PIMCO gains greater autonomy in Allianz revamp". Reuters.
  8. "Pimco recruits ex-Federal Reserve chairman Ben Bernanke". The Guardian. 29 April 2015. Retrieved 23 July 2018.
  9. Gittelsohn John (20 July 2016). "Pimco Names Man Group's Chief Emmanuel Roman as Its New CEO". Bloomberg News.
  10. "Pimco: The man who replaced Mohamed". Financial Times. 28 February 2014. Retrieved 2020-05-27.
  11. Childs, Mary (2 December 2014). "Pimco Total Return Withdrawals Slow to $9.5 Billion". Bloomberg Businessweek. United States. Archived from the original on December 7, 2014.
  12. "Firm Leadership". PIMCO. Retrieved September 9, 2018.

Media related to PIMCO at Wikimedia Commons

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.