is leaving Pimco
, and two other senior Pimco
veterans are on the rise.
| Jay Jacobs|
President and Managing director
Jacobs, president and managing director at Pimco's Newport Beach office, is retiring on September 30th after 19 years at Pimco. Robin Shanahan
and Peter Strelow
, both currently managing directors, will become the co-chief operating officers and will report to Pimco's CEO, Emmanuel Roman
. Jacobs will continue to work as Roman's advisor until at least September 2018.
Shanahan, global head of human resources, has worked at Pimco for 10 years and Strelow, chief administrative officer and global head of funds, has been at Pimco for 15 years. They will be assuming Jacobs' responsibilities and join Pimco's executive office.
| Robin Shanahan|
Global Head of Human Resources
"Robin and Peter's experience overseeing key business functions and their skill in managing and mentoring Pimco employees will serve our employees and clients well in their new roles," states Roman.
Jacobs has recently been appointed to the Board of Directors of the Peterson Institute for International Economics and in January will become a Distinguished Global Fellow at Georgetown University's Center for Financial Markets and Policy.
| Peter Strelow|
Chief Administrative Officer and Global Head of Funds
"Through almost two decades at Pimco, Jay has made an invaluable contribution to the firm, our employees and clients and the firm's strength and stability today are testament to Jay's focused leadership,” states Roman. "Although I am saddened by Jay's departure, I am pleased that he has agreed to continue in an advisory role to me so I can draw on his wealth of experience and excellent judgment in many facets of the asset management industry."
"I will truly miss all the remarkable people who have made my 19 years at Pimco so enjoyable and rewarding. I leave knowing that Pimco is in great hands and that its best days lie ahead," states Jacobs.
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