PIMCO

Pacific Investment Management Company

Pimco
Type	Subsidiary
Industry	Financial Services
Founded	1971 (1971)
Founder	Bill Gross Jim Muzzy Bill Podlich
Headquarters	Newport Beach, California, United States
Key people	Douglas Hodge, CEO Jay Jacobs, President Dan Ivascyn, Group Chief Investment Officer
Products	Investment management
AUM	$1.52 trillion, (30 June 2015)
Number of employees	2444
Parent	Allianz
Website	www.pimco.com

Pacific Investment Management Company, LLC (commonly called PIMCO), is a global investment management firm headquartered in Newport Beach, California, with over 2,000 employees working in 13 offices across 12 countries, and $1.52 trillion in assets under management as of 30 June 2015. 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. 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.

Leadership

PIMCO's CEO is Douglas Hodge, who succeeded Mohamed A. El-Erian in 2014, 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.

History

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.

External links

• Company home page
• Yahoo! – Pacific Investment Management Company LLC Company Profile
• Bloomberg – Pimco to focus on global funds
• Wall Street Journal - Inside the Showdown Atop Pimco

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