is back ... but not in asset management.
The former Pimco CEO recently joined Sway Ventures
as venture partner, enterprise, Sway founding general partner Bill Malloy confirms
. The San Francisco-based venture capital shop focuses specifically on the financial technology world.
The move comes three months after Hodge, then age 60, retired
from Pimco after 28 years with the giant fixed income asset manager. He took over as Pimco CEO in 2014, then passed the reins to Manny Roman in 2016.
At Sway, Hodge's mandate is three-fold, according to a statement from the company: "finding strategic capital" for Sway's portfolio companies, helping those companies with "scaling their revenue and go to market efforts", and helping those companies hire and retain talent.
Hodge puts his move to Sway in the context of "a major shift in the financial space."
"Digital technology is fundamentally transforming the financial services industry," Hodge states. "I joined Sway Ventures because they sit at the forefront of this movement, deploying capital into FinTech companies that are shaping and redefining the category."
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