PIMCO

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Pacific Investment Management Company
TypeSubsidiary
IndustryFinancial Services
Founded1971
HeadquartersNewport Beach, California, U.S.
Key peopleWilliam H. Gross, Co-Founder, and CIO, Douglas Hodge, CEO,[1] Jay Jacobs, President
ProductsInvestment management
RevenueUndisclosed to public
Employees2000+
ParentAllianz
Websitewww.pimco.com
 
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Pacific Investment Management Company
TypeSubsidiary
IndustryFinancial Services
Founded1971
HeadquartersNewport Beach, California, U.S.
Key peopleWilliam H. Gross, Co-Founder, and CIO, Douglas Hodge, CEO,[1] Jay Jacobs, President
ProductsInvestment management
RevenueUndisclosed to public
Employees2000+
ParentAllianz
Websitewww.pimco.com

Pacific Investment Management Company, LLC (commonly called PIMCO), is a global investment management firm headquartered in Newport Beach, California, in the United States, 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 $1.91 trillion in assets under management as of 31 December 2013.[2] PIMCO is one of the largest bond investors in the world. The company runs the largest bond mutual fund in the U.S., and also provides portfolio management solutions outside of core-bonds, with investment strategies encompassing the entire risk spectrum, including equities, currencies, real assets and alternatives. 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, 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.

Bill Gross[edit]

Mr. Gross is a founder, managing director and CIO of PIMCO based in the Newport Beach office. He has been with PIMCO since he co-founded the firm in 1971 and oversees the management of more than $1.9 trillion of securities. He is the author of numerous articles on the bond market, as well as the book, "Everything You’ve Heard About Investing is Wrong," published in 1997. Among the awards he has received, Morningstar named Mr. Gross and his investment team Fixed Income Manager of the Decade for 2000-2009 and Fixed Income Manager of the Year for 1998, 2000, and 2007 (the first three-time recipient). He received the Bond Market Association’s Distinguished Service Award in 2000 and became the first portfolio manager inducted into the Fixed Income Analysts Society's hall of fame in 1996. Mr. Gross is a nine-time Barron's Roundtable panelist (2005-2013), appearing in the annual issue featuring the industry's top investment experts, and he received the Money Management Lifetime Achievement Award from Institutional Investor magazine in 2011. In a survey conducted by Pensions and Investments magazine in 1993, he was recognized by his peers as the most influential authority on the bond market in the U.S. He has 43 years of investment experience and holds an MBA from the Anderson School of Management at the University of California, Los Angeles. He received his undergraduate degree from Duke University.

Douglas Hodge[edit]

Mr. Hodge is a managing director in the Newport Beach office and PIMCO's chief executive officer. He also serves on PIMCO's executive committee and on the global executive committee for Allianz Asset Management, the governing body of asset management for the Allianz Group. Previously, he served as PIMCO’s chief operating officer. Earlier, Mr. Hodge led the Asia Pacific region from the firm's Tokyo office from 2002-2009. He joined PIMCO in 1989 and has previously served the firm as a senior account manager responsible for client relationships worldwide and as a global product manager. Mr. Hodge currently serves on the board of the Securities Industry and Financial Markets Association. He has 28 years of investment experience and holds an MBA from Harvard Business School. He received an undergraduate degree from Dartmouth College.

Jay Jacobs[edit]

Mr. Jacobs is a managing director in the Newport Beach office and PIMCO's president. Previously, he served as the head of talent management globally. Earlier, he was the head of PIMCO's German business and a member of the company's European management team for five years, based in Munich. He joined the firm in 1998, working initially in the management group in Newport Beach. Prior to joining PIMCO, Mr. Jacobs was a vice president at Commercial Trust Company. He has 19 years of investment experience and holds an MBA from Georgetown University. He received his undergraduate degree from Washington University, St. Louis.

Andrew Balls[edit]

Mr. Balls is a Deputy CIO, a managing director in the London office and a member of the Investment Committee. He is head of European portfolio management, leading PIMCO's European investment team (which is based in London and Munich), and he also oversees PIMCO's investment teams in the Asia Pacific region. He manages a range of global and European portfolios, including PIMCO’s Global Advantage strategy, combining developed and emerging fixed income markets. Mr. Balls was previously a portfolio manager in Newport Beach and the firm's global strategist. Prior to joining PIMCO in 2006, he spent eight years at the Financial Times as an economics correspondent and columnist in London, New York and Washington, DC. He has 15 years of investment experience and holds a bachelor's degree from Oxford and a master's degree from Harvard University. He was a lecturer in economics at Keble College, Oxford.

Dan Ivascyn[edit]

Mr. Ivascyn is a Deputy CIO and a managing director in the Newport Beach office. He is the head of the mortgage credit portfolio management team and a lead portfolio manager for PIMCO's credit hedge fund and mortgage opportunistic strategies. Mr. Ivascyn is a member of PIMCO's Executive Committee and has also periodically served as a member of the Investment Committee. Morningstar named him Fixed Income Fund Manager of the Year (U.S.) for 2013. Prior to joining PIMCO in 1998, he worked at Bear Stearns in the asset-backed securities group, as well as T. Rowe Price and Fidelity Investments. He has 22 years of investment experience and holds an MBA in analytic finance from the University of Chicago Graduate School of Business and a bachelor's degree in economics from Occidental College.

Mark Kiesel[edit]

Mr. Kiesel is a Deputy CIO and a managing director in the Newport Beach office. He is a member of the PIMCO Investment Committee, a generalist portfolio manager and the global head of corporate bond portfolio management, with oversight for the firm’s investment grade, high yield, bank loan, municipal and insurance business as well as credit research. Morningstar named him Fixed Income Fund Manager of the Year in 2012 and a finalist in 2010. He has written extensively on the topic of global credit markets, founded the firm’s Global Credit Perspectives publication and regularly appears in the financial media. He joined PIMCO in 1996 and previously served as PIMCO's global head of investment grade corporate bonds and as a senior credit analyst. He has 21 years of investment experience and holds an MBA from the University of Chicago's Graduate School of Business. He received his undergraduate degree from the University of Michigan.

Virginie Maisonneuve[edit]

Ms. Maisonneuve is a Deputy CIO, managing director, global head of equities and portfolio manager based in the London office. Prior to joining PIMCO in 2014, she was head of global and international equities at Schroders plc. Previously, she was co-CIO and director at Clay Finlay, a portfolio manager at State Street Research and Management, and a portfolio manager at Batterymarch Financial Management. She has 27 years of investment experience and holds an MBA from the Ecole Superieure Libre des Sciences Commerciales Appliquees (ESLSCA) in Paris. She also holds a master’s degree in Mandarin Chinese from Dauphine University in Paris and an undergraduate degree from People’s University (Renda) in Beijing..

Scott Mather[edit]

Mr. Mather is a Deputy CIO and a managing director in the Newport Beach office and head of global portfolio management. Previously, he led portfolio management in Europe, managed euro and pan-European portfolios and worked closely with many Allianz-related companies. He also served as a managing director of Allianz Global Investors KAG. Prior to these roles, Mr. Mather co-headed PIMCO's mortgage- and asset-backed securities team. Prior to joining PIMCO in 1998, he was a fixed income trader specializing in mortgage-backed securities at Goldman Sachs in New York. He has 19 years of investment experience and holds a master's degree in engineering, as well as undergraduate degrees, from the University of Pennsylvania.

Mihir Worah[edit]

Mr. Worah is a Deputy CIO and a managing director in the Newport Beach office, a portfolio manager, and head of the real return and multi-asset portfolio management teams. Prior to joining PIMCO in 2001, he was a postdoctoral research associate at the University of California, Berkeley, and the Stanford Linear Accelerator Center, where he built models to explain the difference between matter and anti-matter. In 2012 he co-authored Intelligent Commodity Indexing, published by McGraw-Hill. He has 12 years of investment experience and holds a Ph.D. in theoretical physics from the University of Chicago.

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.

References[edit]

External links[edit]