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, US|
|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 an American businessman, chief economic adviser at Allianz, a multinational financial services company. He is the former CEO and co-chief investment officer at PIMCO, a global investment firm and one of the world's largest bond investors, with approximately $2 trillion in assets under management as of December 2013. PIMCO is a subsidiary of Allianz.
El-Erian serves as chair of President Obama's Global Development Council. He is a columnist for Bloomberg View, as well as contributing editor to the Financial Times and a member of their A List. In 2014 and 2015, he served on the panel of experts that judged and selected the Financial Times/McKinsey Business Book of the Year. He is also a regular contributor to "Project Syndicate", Business Insider as well as Fortune/CNN and Foreign Policy. He is the author of The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse published in January 2016 by Random House.
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 co-founder 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. In November 2015, The Middle East Institute in Washington DC honored him with their Visionary Award. The award recognizes outstanding leadership in international economic and financial policy, melding creativity and vision with expertise to promote global prosperity.
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, Co-chair of the Capital Campaign for the University and Colleges of Cambridge and Cambridge in America. On March 18, 2015, El-Erian was admitted as Companion of the Guild of Benefactors, Cambridge University. He is also a board member of New America, King Abdullah University of Science and Technology (KAUST) and The Pegasus School. Since 2007, he has served as chair of the Microsoft Investment Advisory Committee.
His philanthropic efforts over the years have emphasized education and health, including major gifts to the Children's Cancer Hospital in Egypt as well as the University of Cambridge and Queens' College. In October 2015, it was announced that, together with funding for studentships and new faculty positions, the El-Erian Institute for Human Behavior and Economic Policy would be established in partnership with Queens' College and the Faculty of Economics at Cambridge. The work of the institute will look to appropriately combine economics and finance with neuroscience, psychology, politics and behavioral fiance to better understand how people actually make decisions rather than how narrow theory assumes they will.
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 has also spoken at CFA, FT, and Economist conferences. In November 2007, El-Erian was the series kick-off 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. In October 2014, he spoke at HSBC and RBS. He participated in the international symposium of the Banque de France. He was also the keynote speaker at the 2014 CME Conference along with Ben Bernanke and Colin Powell. He has also spoken before the Economic Club of Canada, Soka University, ProBono Economics, Boston Security Analysts, Rabobank and the Global Financial Forum. In March 2015 he was a featured speaker at the Egypt Economic Development Conference in Sharm El-Sheikh, Egypt. He also is a contributor to LinkedIn's Influencer series and was ranked third on their top 10 influencers of the year. In November 2015, he participated in the Fortune CEO Global Summit and was the keynote speaker at the CFA Society of Chicago. In December 2015, El-Erian was the keynote speaker at the Information Management Network Conference in Scottsdale, Arizona.
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.
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- "Ai Weekly Commentary". Africa Investor. 2013-09-23. Retrieved 2013-09-26.
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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.
- Mohaned A. El-Erian (2010-10-10). "The Per Jacobsson Lecture : Navigating the New Normal in Industrial Countries" (PDF). Perjacobsson.org. Retrieved 2016-01-31.
- 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.
- "Bernanke, El-Erian, Powell Headline 2014 GFLC". Openamrkets.cmegroup.com. Retrieved 2016-01-31.
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- "Influencers". Lists.linkedin.com. 2015-12-08. Retrieved 2016-01-31.
- November 1, 2015, 7:40 AM EST (2015-11-01). "Fortune's must-watch Global Forum conference starts Monday, Nov. 2". Fortune. Retrieved 2016-01-31.
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- "Global Indexing & ETFs -> Speakers". Imn.org. Retrieved 2016-01-31.
- (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