Pacific Investment Management Co.
|Pacific Investment Management Co.|
|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|
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.
PIMCO has a charitable arm called the "PIMCO Foundation."
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.
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.
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. 
- 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
- ↑ 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.