PIMCO’s El-Erian to leave by March

PIMCO, the US West Coast based manager, has announced that CEO and co-chief investment officer Mohamed El-Eiran is to leave the business by March, sparking a re-shuffle of senior executive roles.

 In a statement released overnight CET time, the company said:

“PIMCO, a leading global investment management firm, announced today that Chief Executive Officer and Co-Chief Investment Officer Mohamed A. El-Erian has decided to step down from his role and leave the firm in mid-March. He will remain a member of the Allianz International Executive Committee and, as of mid-March, also advise the Board of Management of Allianz on global economic and policy issues. PIMCO’s founder William H. Gross will continue to serve as the firm’s Chief Investment Officer. At the same time, the firm has appointed a new portfolio management and executive leadership team. They will immediately begin to transition into their new roles.”

As a result of the changes, the following roles have been confirmed by the manager:

   – Andrew Balls, deputy CIO

   – Daniel Ivascyn, deputy CIO

   – Douglas Hodge, CEO

   – Jay Jacobs, president

   – Craig Dawson, head of Strategic Business Management




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