PIMCO(Redirected from Pimco)
|Headquarters||Newport Beach, California, U.S.|
|AUM||$1.51 trillion, (30 June 2016)|
Number of employees
Pacific Investment Management Company, LLC (commonly called PIMCO), is an American investment management firm headquartered in Newport Beach, California, with over 2,000 employees working in 13 offices across 12 countries, and $1.51 trillion in assets under management as of 30 June 2016. The company provides mutual funds and other portfolio management and asset allocation solutions for millions of investors worldwide. PIMCO offers a broad list of investment strategies that encompass the entire risk spectrum and capital structure, 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.
The firm, a prominent thought leader in the financial markets, is known to have coined and popularized the phrase "The New Normal" in the aftermath of the subprime mortgage crisis in 2009. "The new normal" as a standalone phrase has a long history dating to the post-First World War era and then seeing a new resurgence in use in the post 9/11 era. More recently, PIMCO introduced "The New Neutral®" thesis to characterize a period of lower but stable economic growth, and interest rates to remain lower than historically for a longer period of time.
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.
PIMCO appointed Emmanuel Roman as CEO effective 1 November 2016, succeeding Douglas M. Hodge, and the firm's President is Jay Jacobs. Dan Ivascyn, Group Chief Investment Officer (CIO), 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.
The firm was founded in 1971, 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.
- Grind, Kirsten; Calia, Michael (26 September 2014). "Bill Gross Leaves Pimco for Janus". Markets. The Wall Street Journal.(subscription required)
- "Our Firm". PIMCO. Retrieved 9 September 2016.
- Gittelsohn, John (20 July 2016). "Pimco Names Man Group's Chief Emmanuel Roman as Its New CEO". Bloomberg News.
- Childs, Mary (2 December 2014). "Pimco Total Return Withdrawals Slow to $9.5 Billion". Bloomberg Businessweek. United States.