MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 11, 2007 Ex-PIMCO Exec Comes Back For More ... at the Very Top PIMCO has added a familiar face as its first ever co-CEO and co-chief investment officer, but he's not replacing the current senior management team. On Tuesday the Newport Beach, California-based fixed income giant (currently $693 million assets under management and counting) revealed that ex-managing director and senior portfolio manager Mohamed El-Erian, who has spent the last two years leading Harvard University endowment, is rejoining as co-CEO and co-CIO, alongside founder and CIO Bill Gross and CEO Bill Thompson. And Thompson said that he and Gross are not heading out anytime soon. "Neither Bill Gross nor I at this time have any plans to step down, and in fact, have just been elected by PIMCO's managing directors for 5-year terms in our respective roles," Thompson stated. "The demands and complexities of our current positions suggest that the addition of a unique talent such as Mohamed's will enhance both of our contributions going forward." El-Erian, now 49, worked with the International Monetary Fund for 15 years before spending seven with PIMCO (and now two with Harvard). He will officially take his new position in January. Printed from: MFWire.com/story.asp?s=15702 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |