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PIMCO

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Pacific Investment Management Company LLC
Company typeLimited liability company[1]
IndustryFinancial services
Founded1971; 53 years ago (1971)[2]
FounderBill Gross[2]
Jim Muzzy
Bill Podlich
Headquarters
Newport Beach, California
,
U.S.
Key people
ProductsAsset management - public and private markets
AUMUS$2.0 trillion (March 31, 2022)[3]
OwnerAllianz
Number of employees
3,145+[4]
Websitewww.pimco.com

PIMCO (officially Pacific Investment Management Company LLC) is an American investment management firm focusing on active fixed income management worldwide. PIMCO manages investments in many asset classes such as fixed income, equities, commodities, asset allocation, ETFs, hedge funds, and private equity. PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. PIMCO’s headquarters are in Newport Beach, California; the firm has over 3,100 employees working in 22 offices throughout the Americas, Europe, and Asia.[4] PIMCO and Allianz Global Investors manage around €2.5 trillion of third-party assets.[5]

History

PIMCO initially functioned as a unit of Pacific Life Insurance Co., managing separate accounts for that insurer's clients. The firm was founded in 1971,[2] launching with $12 million of assets. 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.[6][7]

On September 26, 2014, it was announced that Bill Gross, co-founder and former Chief Investment Officer (dubbed the "Bond King" in the investment arena), was stepping down to join Janus Capital Group.[2] In April 2015, PIMCO announced the hire of former Federal Reserve Chairman Dr. Ben Bernanke as a senior advisor, following in the footsteps of predecessor Federal Reserve Chairman Alan Greenspan.[8]

Leadership

PIMCO appointed Emmanuel Roman as CEO effective November 1, 2016.[9] He succeeded Douglas M. Hodge, who was CEO from 2014 to 2016.[10]

Dan Ivascyn, group chief investment officer (CIO) broadly oversees portfolio management and investment strategy.[11] There are also five other CIOs: Andrew Balls, CIO Global Fixed Income; Mark Kiesel, CIO Global Credit; Scott Mather, CIO U.S. Core Strategies; Marc Seidner, CIO Non-traditional Strategies; and Mihir Worah, CIO Real Return and Asset Allocation.[12]

Roman was awarded the Chicago Booth Distinguished Alumni Award in 2019 in recognition of outstanding professional achievement.[13]

Ivascyn was inducted into the Fixed Income Hall of Fame in 2019 which recognizes leaders and pioneers who have transformed capital markets and established enduring legacies.[14]

Awards

2019

  • The Civic 50 Award by Points of Light.[15]
  • Outstanding ESG Investment Leader of the Year by Scott Mather, Environmental Finance.[16]
  • Innovation Award by Impact 2030.[17]

2020

2021

  • 2021 Money Management Fund Manager of the Year Global Fixed Income award with the winning fund Global Bond Wholesale[19]

References

  1. ^ "Pacific Investment Management Co LLC - Company Profile and News". Bloomberg News.
  2. ^ a b c d Grind, Kirsten; Calia, Michael (26 September 2014). "Bill Gross Leaves Pimco for Janus". Markets. The Wall Street Journal.(subscription required)
  3. ^ "Our Firm". PIMCO. Archived from the original on 2 May 2022. Retrieved 24 May 2022.
  4. ^ a b "Our Firm (Careers)". PIMCO. Archived from the original on 24 May 2022. Retrieved 24 May 2022.
  5. ^ "The Allianz Advantage". www.allianzcapitalpartners.com.
  6. ^ McCrum, Dan (11 September 2011). "Allianz's decision on Pimco raises eyebrows". Financial Times.
  7. ^ Ablan, Jennifer; Ten Wolde, Harro (6 September 2011). "PIMCO gains greater autonomy in Allianz revamp". Reuters.
  8. ^ "Pimco recruits ex-Federal Reserve chairman Ben Bernanke". The Guardian. 29 April 2015. Retrieved 23 July 2018.
  9. ^ Gittelsohn John (20 July 2016). "Pimco Names Man Group's Chief Emmanuel Roman as Its New CEO". Bloomberg News.
  10. ^ "Pimco: The man who replaced Mohamed". Financial Times. 28 February 2014. Retrieved 2020-05-27.
  11. ^ Childs, Mary (2 December 2014). "Pimco Total Return Withdrawals Slow to $9.5 Billion". Bloomberg Businessweek. United States. Archived from the original on December 7, 2014.
  12. ^ "Firm Leadership". PIMCO. Retrieved September 9, 2018.
  13. ^ "The 2019 Distinguished Alumni Award Honorees". www.chicagobooth.edu. Retrieved October 19, 2019.
  14. ^ Society, Fixed Income Analyst. "Fixed Income Analysts Society Announces This Year's "Hall Of Fame" Award Winners". www.prnewswire.com. Retrieved October 19, 2019.
  15. ^ "Points of Lights announces 2019 honorees of The Civic 50 at annual conference". Points of Light. 17 June 2019. Retrieved 14 May 2020.
  16. ^ "Investment leader of the Year – Scott Mather (Pimco)". Environmental Finance. 6 August 2019. Retrieved 14 May 2020.
  17. ^ "Putting purpose to work at PIMCO" (PDF). Impact 2030. 2019. Retrieved 14 May 2020.
  18. ^ "Best Places to Work 2020". hrc.org. Archived from the original on 5 August 2020. Retrieved 14 May 2020.
  19. ^ Staff Writer (June 1, 2021). "PIMCO Takes Fixed Income Awards". Fixed Income News Australia.

External links

Media related to PIMCO at Wikimedia Commons

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