Mohamed A. El-Erian
|Mohamed A. El-Erian|
El-Erian speaking at the World Economic Forum Summit on the Global Agenda 2008
August 19, 1958 |
New York, United States
|Residence||Newport Beach, California|
|Alma mater||Queens' College, Cambridge
St. Anthony's College, Oxford
|Occupation||Former CEO of PIMCO|
Mohamed A. El-Erian (Egyptian Arabic: [mæˈħæmmæd elʕeɾˈjæːn]; born August 19, 1958) is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond investors, which is owned by Allianz.
El-Erian serves as chair of President Obama's Global Development Council.He is a columnist for Bloomberg View, as well as a regular contributor to the Financial Times and a member of their A List. He is also a regular contributor to Business Insider as well as Fortune/CNN and Foreign Policy. He is on the panel of experts that is judging the Financial Times/McKinsey Business Book of the Year for 2014.
As CEO of PIMCO, El-Erian was responsible for setting the strategic direction of the firm and leading its operations globally. As co-CIO with PIMCO cofounder Bill Gross, El-Erian oversaw investment policies and strategies for all of the company's portfolio management activities.
He re-joined PIMCO at the end of 2007 after serving for two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment and related accounts. He served as a member of the faculty of Harvard Business School. He is currently a member of the Harvard Global Advisory Council.
El-Erian first joined PIMCO in 1999 and was a senior member of their portfolio management and investment strategy group. Before coming to PIMCO, he was a managing director at Citigroup in London. Before that he spent 15 years at the International Monetary Fund in Washington, D.C., where he served as Deputy Director.
On December 21, 2012, President Obama announced the appointment of El-Erian as the Chair of the president's Global Development Council.
Early life and education
El-Erian was born in New York City but spent his childhood in Egypt. The family moved back to New York in 1968 when his father took a position at the United Nations. He also accompanied his father on his other diplomatic postings abroad, including as Ambassador to France (1971–73), only returning to Egypt for short visits.
After attending St John's School, Leatherhead, a boarding school in the United Kingdom, gaining an entrance scholarship to Queens' College, Cambridge and receiving a first class honors undergraduate degree in economics, he obtained master's and doctorate degrees in economics from Oxford University. In June 2011, El-Erian received an honorary doctorate degree from the American University in Cairo. Following a Governing Body decision, he was admitted in December 2013 as an Honorary Fellow of Queens' College, Cambridge University.
El-Erian has published widely on international economic and finance topics. He is a member of the Financial Times "A-List" of writers, has a monthly column in Foreign Policy and is a contributing editor at the FT. He is also a regular op-ed contributor to Project Syndicate. His columns have appeared in The Atlantic, Bloomberg, The Economist, "Business Insider", Financial Times, Fortune, Newsweek, The Wall Street Journal, The Washington Post, The Financial Express, and other outlets. He is a columnist for Bloomberg. His book When Markets Collide was a New York Times and Wall Street Journal bestseller. The book won the Financial Times and Goldman Sachs Business Book of the Year Award in 2008, was named a book of the year by The Economist, and called one of the best business books of all time by The Independent.
El-Erian was named to Foreign Policy's list of Top 100 Global Thinkers for 2009, 2010, 2011, and 2012. He appears regularly on CNN, CNBC, and Bloomberg as well as other media outlets. In April 2013, Foreign Policy named him as one of the 500 most powerful people on the planet. He was inducted into the Fixed Income Analysts Society Hall of Fame on April 14, 2011. In 2011, 2012, and 2013, he was included in Investment Advisor's annual IA 25 list honoring the most influential people in and around the advisor community. In December 2012, Marketwatch named him one of "30 leaders who will set the agenda in 2013" – the publication's annual list of the people who will shape economic currents in the coming year. In September 2013, he was recognized as the Capital Markets Personality of the Year by Africa Investor, an international investment and communications group that publishes a leading magazine for Africa's investment decision makers. Worth Magazine, a publication focused on high-net-worth individuals, named El-Erian to its Power 100 list – "The 100 Most Powerful People in Finance" – in 2011, 2012, and 2013. In September 2012, he was given the Creative Leadership Award by the Louise Blouin Foundation. In February 2014, the Ukleja Center honored him with the 2014 Nell and John Wooden Ethics in Leadership award. In July 2014, the Egyptian Cancer Network gave him the Lifetime Achievement Award for his support of cancer treatment and cures for children in Egypt.
El-Erian has served on several boards and committees, including the U.S. Treasury Borrowing Advisory Committee, the International Center for Research on Women, the IMF's Committee of Eminent Persons, and the Peterson Institute for International Economics. He is currently a board member of the Carnegie Endowment for International Peace, the NBER, and Cambridge in America. Since 2007, he has served as chair of the Microsoft Investment Advisory Committee.
El-Erian is a widely recognized thought leader and, along with Bill Gross, is credited with developing the post-global financial crisis concept of the "New Normal". He has published numerous articles and commentaries on topics related to the New Normal, the sovereign debt crisis in Europe, the transformative changes occurring in the Middle East, and other matters related to the global economy.
El-Erian has spoken at many universities, public institutions and other outlets, including the University of California, Irvine, the New York Public Library, the University of Southern California, Cambridge, Oxford, the Newport Beach Public Library, and the 92nd Street Y. He also spoke at CFA, FT, and Economist conferences. In November 2007, El-Erian was the series kick-off the speaker of the MIT Egyptian Club. In 2010, he delivered the Per Jacobsson Foundation Lecture in Washington, D.C. In 2012 he was chosen to present the Homer Jones Memorial Lecture at the Federal Reserve Bank of St. Louis. In October 2012, he delivered the keynote Bagehot at The Economist's Buttonwood Gathering in New York. In November 2013, he delivered the luncheon speech at the IMF's Annual Research Conference that also featured Ben Bernanke, Olivier Blanchard, Stanley Fischer, Ken Rogoff, and Larry Summers. He also is a contributor to LinkedIn's Influencer series.
He loves sports and has been known to appear on TV wearing the jersey of his favorite football team, the New York Jets.
On January 21, 2014, El-Erian resigned from PIMCO as of mid-March 2014. He remains a member of the parent company's (Allianz) international executive committee and an advisor to the management board. He has since stated in an interview with Worth Magazine that the reasoning behind his departure was that "...my work-life balance had gotten way out of whack, The imbalance was hurting my very special relationship with my daughter. I was not making nearly enough time for her."
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- "Ai Weekly Commentary". Africa Investor. 2013-09-23. Retrieved 2013-09-26.
- "Worth Power 100 – The 100 Most Powerful People in Finance". Worth. Retrieved 2013-10-16.
- "Worth Announces 3rd Annual Worth Power 100: The 100 Most Powerful People in Finance". Worth. Retrieved 2013-10-16.
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- "Ukleja Center for Ethical Leadership". Retrieved 12 March 2014.
- "Emininent Egyptian American Economist, Mohamed A. El-Erian Donates 1 million dollars to Egyptian Cancer Network 57357 and AFNCI". 57357.com. Retrieved 10 August 2014.
- "Investing in the New Normal". Kiplinger.com. October 19, 2010. Retrieved 2011-08-18.
- El-Erian, Mohamed (February 3, 2011). "Spain is not Greece and need not be Ireland". Financial Times. Retrieved 2011-08-18.
- El-Erian, Mohamed (January 17, 2011). "Europe is running fast to stand still". Financial Times. Retrieved 2011-08-18.
- El-Erian, Mohamed (February 9, 2011). "Resetting Egypt's economy | The Great Debate". Blogs.reuters.com. Retrieved 2011-08-18.
- El-Erian, Mohamed (January 31, 2011). "Egypt's Improbable Path Traces Four Points: Mohamed A. El-Erian". Bloomberg. Retrieved 2011-08-18.
- El-Erian, Mohamed (February 22, 2011). "Prepare for a shock from the Middle East". Financial Times. Retrieved 2011-08-18.
- El-Erian, Mohamed A. (January 25, 2011). "Davos Moguls Adjust to Fast, Slow, Reverse: Mohamed A. El-Erian". Bloomberg. Retrieved 2011-08-18.
- "Social". Web.mit.edu. 2007-11-26. Retrieved 2011-08-18.
- Mohamed A. El-Erian. "Viewpoints - Evolution, Impact and Limitations of Unusual Central Bank Policy Activism". PIMCO. Retrieved 2012-06-15.
- "Homer Jones - St. Louis Fed". St. Louis Fed. Retrieved 2012-06-15.
- "CEO quits after daughter lists missed milestones". HR Grapevine. 25 September 2014. Retrieved 27 October 2014.
- (2008) When Markets Collide: Investment Strategies for the Age of Global Economic Change, McGraw-Hill Professional. ISBN 978-0-07-159281-9.
- Column archive at Project Syndicate
- Mohamed A. El-Erian at the Internet Movie Database
- Works by or about Mohamed A. El-Erian in libraries (WorldCat catalog)
- "Inside the Showdown Atop Pimco, the World's Biggest Bond Firm" by Gregory Zuckerman and Kirsten Grind
- Mohamed A. El-Erian collected news and commentary at The Wall Street Journal
- Interview of CNBC with El-Erian
- "Making the grade: Face to Face with Harvard's Mohamed El-Erian,", Douglas Appell, Pensions & Investments, September 3, 2007