Open main menu

Pacific Investment Management Company, LLC (commonly called PIMCO) is an American investment management firm focusing on fixed income. It is headquartered in Newport Beach, California, with 2,300 employees working in 14 offices across 11 countries, and $1.66 trillion in assets under management as of December 31, 2018.

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
2500+[2]
ParentAllianz
Websitewww.pimco.com

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

Contents

LeadershipEdit

PIMCO appointed Emmanuel Roman as CEO effective November 1, 2016. He succeeded Douglas M. Hodge, who was CEO from 2014-2016.[3]

Dan Ivascyn, Group Chief Investment Officer (CIO) broadly oversees portfolio management and investment strategy.[4] 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.[5]

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.[6]

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.
  3. ^ Gittelsohn John (20 July 2016). "Pimco Names Man Group's Chief Emmanuel Roman as Its New CEO". Bloomberg News.
  4. ^ Childs, Mary (2 December 2014). "Pimco Total Return Withdrawals Slow to $9.5 Billion". Bloomberg Businessweek. United States.
  5. ^ "Firm Leadership". PIMCO. Retrieved September 9, 2018.
  6. ^ "Pimco recruits ex-Federal Reserve chairman Ben Bernanke". The Guardian. 29 April 2015. Retrieved 23 July 2018.

External linksEdit