PIMCO

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Pacific Investment Management Company
Type Subsidiary
Industry Financial Services
Founded 1971
Headquarters Newport Beach, California, U.S.
Key people William H. Gross, Co-Founder, and CIO, Douglas Hodge, CEO,[1] Jay Jacobs, President
Products Investment management
Revenue Undisclosed to public
Employees 2000+
Parent Allianz
Website www.pimco.com

Pacific Investment Management Company, LLC (commonly called PIMCO), is an American global investment management firm headquartered in Newport Beach, California, with over 2,400 employees working in 13 offices across 12 countries. PIMCO is one of the largest active global fixed income investment managers in the world, with over $1.97 trillion in assets under management as of 30 June 2014.[2] The company runs the largest bond mutual fund in the world - the PIMCO Total Return Bond Fund, and provides portfolio management and asset allocation solutions for millions of investors worldwide. PIMCO offers a broad list of investment strategies that encompass the entire risk spectrum and capital structure, including structured credit, alternatives, real assets, equities and currencies. PIMCO also has an ETF business, which had approximately $13.581 billion in assets under management, as of Jan. 21, 2014.[3]

Leadership[edit]

PIMCO is headed by Co-Founder and Chief Investment Officer (CIO) William H. Gross,[4] (better known as Bill Gross). PIMCO's CEO is Douglas Hodge who succeeded Mohammed El-Erian in 2014, and the firm's President is Jay Jacobs. PIMCO also has six Deputy CIOs: Andrew Balls, Dan Ivascyn, Mark Kiesel, Virginie Maisonneuve, Scott Mather and Mihir Worah.

Firm History[edit]

The firm was founded in 1971, launching with $12 million of assets. Previously, PIMCO had functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer's clients. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Munich, Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.

PIMCO oversees investments on behalf of a wide range of clients, including millions of retirement savers, public and private pension plans, educational institutions, central banks and government agencies, foundations and endowments and financial intermediaries among others.

PIMCO is also one of the most profound contributors to global thought leadership in finance and economics. The firm is known to have coined and popularized the phrase "the New Normal" in the aftermath of the subprime mortgage crisis in 2009. More recently, PIMCO introduced the "New Neutral" thesis to characterize a period of lower but stable economic growth, and interest rates to remain low for a longer period of time.

References[edit]

  1. ^ Mamudi, Sam, "Pimco COO blasts financial culture", MarketWatch, October 23, 2012. Retrieved 2012-10-24.
  2. ^ PIMCO Overview
  3. ^ "ETF League Table As Of Jan. 21, 2014". IndexUniverse. 
  4. ^ "Morningstar Names Bill Gross Fund Managers of the Decade" (Press release). [[]]. 

External links[edit]