Pimco Names Co-Head of Credit Research
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Monday, April 14, 2008

Pimco Names Co-Head of Credit Research

Pimco has brought in Christian Stracke as executive vice president and co-head of credit research. Stracke, who joined the Newport Beach, California-based firm from CreditSights, shares leadership of the credit research team with Ivor Schucking.

Company Press Release

NEWPORT BEACH, CA--(Marketwire - April 14, 2008) - PIMCO announced today that it has hired Christian Stracke as an Executive Vice President and Co-Head of Credit Research. Mr. Stracke will be based in the firm's Newport Beach, California office where he will complement the strong expertise and specialization of PIMCO's credit group.

"We are excited about having Christian join us. Throughout his successful career, Christian has demonstrated a strong ability to expertly combine traditional bottom-up credit analysis with a deep understanding of capital structures and macro influences," said Mohamed A. El-Erian, PIMCO's Co-CEO and Co-CIO.

"I'm looking forward to partnering with Christian," said Ivor Schucking, PIMCO's Co-Head of Credit Research. "His expertise in macro and thematic views will further complement the bottom-up expertise of our credit research team and will further strengthen PIMCO's capabilities as we continue to deliver first class investment management services for our clients around the world."

Christian joins PIMCO from CreditSights, where he was senior credit strategist. Previously, he worked at Deutsche Bank and Commerzbank leading Latin American fixed income strategy. Christian has a bachelor's degree in philosophy from the University of Chicago.

With more than $747 billion in fixed-income assets under management in the US, PIMCO is one of the world's leading fixed-income fund-management companies. Founded in 1971 and based in Newport Beach, California, the company is majority owned by Munich-based Allianz Group, a leading global insurance company with nearly $1 trillion in assets and represented in 70 countries around the globe.

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

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