Pacific Investment Management Co.
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| Pacific Investment Management Co. | |
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| Founded | 1971 |
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| Headquarters | Newport Beach, California |
| Key People | Mohamed A. El-Erian, CEO |
| Employees | PIMCO has over 1000 employees in offices in Newport Beach, New York, Singapore, Tokyo, London, Sydney, Munich, Toronto, and Hong Kong |
| Corporate Website | www.pimco.com |
Pacific Investment Management Co., or PIMCO as it is widely known, is a global investment management firm that had over $829.5 billion in assets under management as of June 30, 2008. It was founded by William (Bill) H. Gross in 1971 with only several million of assets.[1]
By secular dynamics, PIMCO has always emphasized a 3-5 year focus on secular political, economic, demographic, and market sector trends.[2]
PIMCO has a charitable arm called the "PIMCO Foundation."
History
PIMCO started as a subsidiary of Pacific Life Insurance Company to manage separate accounts for institutional clients. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Germany. PIMCO operates as a separate and autonomous subsidiary of Allianz. The acquisition by Allianz provided an opportunity for many of PIMCO's professionals to purchase an equity stake in PIMCO.[3]
PIMCO announced in September of 2008 that after 15 years as CEO, Bill Thompson would retire at the end of 2008. Co-CEO Mohamed A. El-Erian was elected to serve as PIMCO's CEO upon Thompson's retirement. El-Erian would also continue his role as co-CIO with Bill Gross.[4]
Managing the world's largest bond fund, PIMCO made headlines when it cut the fund's exposure to U.S. government-related debt in January 2011. PIMCO's Total Return Fund, run by Bill Gross, reported that holdings fell from 22 percent in December 2010 to 12 percent in January 2011. [5]
Key People
- Founder, Co-Chief Investment Officer, William H. Gross. Gross is also chairman of the PIMCO Foundation.
- CEO, Co-Chief Investment Officer, Mohamed A. El-Erian
- Chief Operating Officer, Douglas M. Hodge
- General Counsel, David C. Flattum
- Chief Administrative Officer, David Lown
- Executive Vice President of Credit Analysis, John Devir
References
- ↑ FIASI: Induction Speech for William H. Gross. FIASI.
- ↑ William H. Gross: Induction Speech for William H. Gross. FIASI.
- ↑ History. PIMCO.
- ↑ PIMCO Co-CEO Bill Thompson to Retire at End of 2008. MarketWatch.
- ↑ Largest Bond Fund PIMCO Cuts US Government Holdings. Gold Anti Trust Action Committee.
