PIMCO (Pacific Investment Management Company, LLC) is an American investment management firm focusing on active

fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the pri ...

management worldwide. PIMCO manages investments in many asset classes such as

, equities, commodities,

asset allocation Asset allocation is the implementation of an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investor's risk tolerance, goals and investment ...

, 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,

corporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and ...

s, 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 Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located enti ...

, and

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an ...

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, launching with $12 million of assets. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in

Munich, Germany Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the third-largest city in Germany, after Berlin and ...

, but the firm continues to operate as an autonomous subsidiary of Allianz. 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 Janus Capital Group, Inc. was an American publicly owned investment firm headquartered in Denver, Colorado. The company's asset-management disciplines included growth, core, international, value, mathematical, alternative and fixed-income. Thes ...

. In April 2015, PIMCO announced the hire of former

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

Chairman Dr.

Ben Bernanke Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Fed, he was appointed a distinguished fellow at the Brookings Institution. Dur ...

as a senior advisor, following in the footsteps of predecessor Federal Reserve Chairman Alan Greenspan.

Leadership

PIMCO appointed Emmanuel Roman as CEO effective November 1, 2016. He succeeded

Douglas M. Hodge Douglas M. Hodge (born in 1957) is an American businessman. He is the former CEO of Pacific Investment Management Company (PIMCO), the world's largest bond manager. He pleaded guilty in October 2019 to the felony of conspiring to commit fraud and ...

, who was CEO from 2014 to 2016. Dan Ivascyn, group chief investment officer (CIO) broadly oversees portfolio management and investment strategy. There are also five other CIOs:

Andrew Balls Andrew Balls is PIMCO's Chief Investment Officer for Global Fixed Income. He is a former ''Financial Times'' journalist. He is younger brother to the former UK Shadow Chancellor and former government minister, Ed Balls. He graduated from Oxford ...

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

Awards

2019

*The Civic 50 Award by ''Points of Light.'' *Outstanding ESG Investment Leader of the Year by Scott Mather, ''Environmental Finance.'' *Innovation Award by ''Impact 2030.''

2020

* Best Place to Work for LGBT Equality by Human Rights Campaign.

2021

*2021 Money Management Fund Manager of the Year Global Fixed Income award with the winning fund Global Bond Wholesale

References

External links

*
Pacific Investment Management Company LLC Company Profile
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PIMCO to focus on global funds
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Bloomberg News Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Televi ...

"Inside the Showdown Atop PIMCO"
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The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' {{Authority control 1971 establishments in California 2000 mergers and acquisitions American companies established in 1971 Companies based in Newport Beach, California Exchange-traded funds Financial services companies based in California Financial services companies established in 1971 Investment management companies of the United States