Mohamed A. El-Erian

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Mohamed A. El-Erian
Mohamed A. El-Erian.jpg
Occupation CEO
Employer PIMCO

Mohamed A. El-Erian is an economist who was the chief executive of Pacific Investment Management Co. (Pimco) and is a former deputy director of the International Monetary Fund.[1] He stepped down from Pimco in March 2014, after heading the company for seven years. The effort Pimco launched under El-Erian to build a stock-fund business had faltered when investors began deserting bonds and instead investing in higher yield alternatives such as equities and junk bonds.[2] He will remain on the German parent company's International Executive Committee and advise on global economic and policy issues.

El-Erian originally joined Pimco in 1999 as managing director and he was a senior member of Pimco's portfolio management and investment strategy group. He left the firm to become chief executive and president of Harvard Management Co., which manages Harvard's endowment fund, from 2005-2007, before returning to Pimco two years later.

El-Erian is a financial and economic analyst and an expert in emerging economies. He is also a frequent contributor to the Financial Times regarding the Middle East. [3]

El-Erian made some surprisingly successful trades while at Pimco. In 1999, he dumped $2 billion of Argentine debt less than two years before the country defaulted on $100 billion. At the time, few people believed the country would stop being able to repay its debts. In 2002, he bought Brazilian bonds as his rivals were selling out of fears that the leftist candidate Luiz Inácio Lula da Silva – who won the presidential election – would sink the country into default. After Lula da Silva took office, he cut government expenses and the deficit and Brazil bonds rose.[4]

Background

Before coming to Pimco, El-Erian served as head of emerging markets economic research for Salomon Smith Barney.[5]

He is the son of an Egyptian ambassador to France. He was born in New York but educated in England. He spent 15 years at the International Monetary Fund, where he started in 1983 as an economist.

Education

El-Erian received a bachelor's degree from Cambridge University and a master's degree and doctorate in economics from Oxford.

Other Resources

References

  1. White House Considers Former Pimco CEO Mohamed El-Erian for Fed Vice Chairman Post. The Wall Street Journal.
  2. Pimco CEO Mohamed El-Erian to Leave Pimco in March. The Wall Street Journal.
  3. Prepare for a shock from the Middle East. FT.
  4. A guide to El-Erian’s investment record. The Financial Times.
  5. Surprise Choice Will Manage Harvard's Billions. The New York Times.