PIMCO

US global investment management firm

Pacific Investment Management Company, LLC

PIMCO headquarters at 650 Newport Center Drive, Newport Beach, California

Company type| Subsidiary
Industry| Financial services
Founded| 1971; 53 years ago (1971)[1]
Founder| Bill Gross[1]
Jim Muzzy
Bill Podlich
Headquarters|

Newport Beach, California

U.S.

Key people

* Emmanuel Roman (CEO)
* Dan Ivascyn (CIO)

Products| Investment management
AUM| US$2.0 trillion (March 31, 2022)[2]

Number of employees

| 3,145+[3]
Parent| Allianz

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 and other financial assets across public and private markets. 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. According to the Sovereign Wealth Fund Institute, PIMCO is the 6th-largest asset manager in the world by managed AUM.[4]

PIMCO's headquarters are in Newport Beach, California, near the Pacific Ocean. The firm has over 3,100 employees working in 22 offices throughout the Americas, Europe, and Asia.[3] PIMCO and Allianz Global Investors manage around €2.5 trillion of third-party assets.[5] PIMCO is also the world's largest active ETF manager (as well as one of the first to introduce actively managed ETFs).[6]

## History

[edit]

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,[1] 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.[7][8]

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.[1] 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.[9]

## Leadership

[edit]

PIMCO appointed Emmanuel Roman as CEO effective November 1, 2016.[10] He succeeded Douglas M. Hodge, who was CEO from 2014 to 2016.[11] According to PIMCO,[12] the members of their global advisory board members are:

* Ben Bernanke, former Federal Reserve Chair and Distinguished Senior Fellow at the Brookings Institution.
* Joshua Bolten, President and CEO of the Business Roundtable and former White House Chief of Staff.
* Gordon Brown, former UK Prime Minister and former Chancellor of the Exchequer.
* Mark Carney, UN Special Envoy on Climate Action and Finance, former Governor of the Bank of England, former Governor of the Bank of Canada.
* Michèle Flournoy, U.S. defense policy and national security expert, former U.S. Under Secretary of Defense for Policy.

Apart from the board, Dan Ivascyn \- the group chief investment officer (CIO) - broadly oversees portfolio management and investment strategy.[13] There are also five other CIOs: Andrew Balls, CIO Global Fixed Income; Mark Kiesel, CIO Global Credit; Mohit Mittal, CIO Core Strategies; Marc Seidner, CIO Non-traditional Strategies; and Qi Wang, CIO Portfolio Implementation.[14]

## Influence

[edit]

Often referred to as a "Wall Street giant" and "bond powerhouse," PIMCO commands significant influence in the financial industry, particularly in fixed income.[15] [16] The PIMCO Income Fund (NASDAQ:PIMIX) is the largest actively managed bond fund in the world.[17]

According to data from Morningstar, PIMCO oversees a substantial portion of the world's largest actively managed bond funds, with three out of the top ten funds under its management, including the largest.[18] Under Morningstar's rating system, 42 of PIMCO's mutual funds hold a 5-Star rating, and 90 funds hold a 4-Star rating.[19]

## Notable Employees

[edit]

Notable former or current employees include:

* Mohamed A. El-Erian
* Bill H. Gross
* John J. Studzinski
* Richard Clarida
* Neel Kashkari
* Andrew Balls
* Emmanuel Roman
* Robert D. Arnott
* Daniel Lacalle
* Daniel Ivascyn
* Jamil Baz
* Ramin Toloui
* Ng Kok Song
* Jean-Claude Trichet

## References

[edit]

1. ^ a b c d Grind, Kirsten; Calia, Michael (26 September 2014). "Bill Gross Leaves Pimco for Janus". Markets. The Wall Street Journal.(subscription required)
2. ^ "Our Firm". PIMCO. Archived from the original on 2 May 2022. Retrieved 24 May 2022.
3. ^ a b "Our Firm (Careers)". PIMCO. Archived from the original on 24 May 2022. Retrieved 24 May 2022.
4. ^ "Top 100 Asset Manager Managers by Managed AUM - SWFI". SWFI.
5. ^ "The Allianz Advantage". www.allianzcapitalpartners.com.
6. ^ "Who We are". PIMCO. Retrieved 24 January 2024.
7. ^ McCrum, Dan (11 September 2011). "Allianz's decision on Pimco raises eyebrows". Financial Times.
8. ^ Ablan, Jennifer; Ten Wolde, Harro (6 September 2011). "PIMCO gains greater autonomy in Allianz revamp". Reuters.
9. ^ "Pimco recruits ex-Federal Reserve chairman Ben Bernanke". The Guardian. 29 April 2015. Retrieved 23 July 2018.
10. ^ Gittelsohn John (20 July 2016). "Pimco Names Man Group's Chief Emmanuel Roman as Its New CEO". Bloomberg News.
11. ^ "Pimco: The man who replaced Mohamed". Financial Times. 28 February 2014. Retrieved 2020-05-27.
12. ^ "Global Advisory Board". PIMCO. Retrieved 24 January 2024.
13. ^ 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.
14. ^ "Firm Leadership". PIMCO. Retrieved September 9, 2018.
15. ^ Stokes, Samantha. "Wall Street giants like JPMorgan and Pimco are walking back their environmental pledges after years of outspoken support for fighting climate change". Business Insider. Business Insider.
16. ^ Youing, Lauren. "Should Bond Powerhouse Pimco Jump into Stocks?". Bloomberg.
17. ^ Mackenzie, Michael (15 November 2023). "Pimco's Ivascyn Warns of 'Too Much Enthusiasm' on 2024 Rate Cuts". Bloomberg. Bloomberg. Retrieved 24 January 2024.
18. ^ Lynch, Katherine (5 October 2023). "How the Largest Bond Funds Did In Q3 2023". Morningstar. Retrieved 5 October 2023.
19. ^ "PIMCO-Morningstar". Morningstar.

## External links

[edit]

Media related to PIMCO at Wikimedia Commons

* Pacific Investment Management Company LLC Company Profile—Yahoo! Finance
* PIMCO to focus on global funds—Bloomberg News
* "Inside the Showdown Atop PIMCO"—The Wall Street Journal

* v
* t
* e

Allianz

Founders|

* Carl von Thieme
* Wilhelm von Finck

People|

| Notable current executives|

* Jacqueline Hunt
* Mohamed A. El-Erian
* Oliver Bäte

|

Notable former executives|

* Andreas Utermann
* Elizabeth Corley
* Michael Diekmann

Subsidiaries|

* AGF
* Allianz Global Investors
* Allianz Technology Trust
* Allianz Life
* Bajaj Allianz General Insurance
* Bajaj Allianz Life Insurance
* Euler Hermes
* Fireman's Fund Insurance Company
* Petplan
* PIMCO
* Porterbrook
* Premierline

Buildings|

* Allianz Arena
* Allianz Stadium
* Allianz Tower

* v
* t
* e

Major asset management companies

| Americas|

| Canada|

* Brookfield
* CI Financial
* Fiera Capital
* Guardian Capital Group
* Mackenzie Investments
* Manulife
* Power Financial
* Sun Life Financial

|

USA|

* Affiliated Managers Group
* AllianceBernstein
* Allspring
* Ameriprise Financial
* BlackRock
* BNY Investments
* Capital Group
* Charles Schwab
* Columbia Threadneedle
* Dimensional
* Dodge & Cox
* Edward Jones
* Federated Hermes
* Fidelity Investments
* Franklin Templeton
* Geode Capital
* Invesco
* MFS
* New York Life Investments
* Neuberger Berman
* NISA
* Northern Trust
* Nuveen
* PGIM
* Principal
* PIMCO
* State Street Global Advisors
* T. Rowe Price
* Vanguard Group
* Wellington Management

EMEA|

| France|

* Amundi
* AXA Investment Managers
* BNP Paribas Asset Management
* Natixis Investment Managers
* Ostrum Asset Management

|

Germany|

* Allianz Global Investors
* DWS Group
* Union Investment
* Universal Investment

Italy|

* Anima Holding
* ARCA Fondi SGR
* Assicurazioni Generali
* Azimut Holding
* Eurizon Capital

South Africa|

* Allan Gray
* Coronation Fund Managers
* Ninety One

UK|

* Abrdn
* Aviva Investors
* Baillie Gifford
* Insight Investment
* Janus Henderson
* Legal & General
* Man Group
* Newton Investment Management
* M&G
* Royal London Asset Management
* Schroders

Others|

* Aegon
* Fidelity International
* GAM
* Robeco

Asia Pacific|

| Australia|

* AMP Capital
* First Sentier Investors
* IFM Investors
* Magellan Financial Group
* Perpetual

|

China|

* Bosera Asset Management
* China Asset Management
* China Southern Asset Management
* China Universal Asset Management
* E Fund Management
* Fullgoal Fund Management
* Harvest Fund Management
* ICBC Credit Suisse Asset Management
* Penghua Fund Management
* Tianhong Asset Management
* Zhong Ou Asset Management

India|

* Aditya Birla Sun Life Asset Management
* Axis Mutual Fund
* ICICI Prudential Mutual Fund
* Kotak Mutual Fund
* SBI Mutual Fund
* UTI Asset Management

Japan|

* Asset Management One
* Mitsubishi UFJ Trust and Banking Corporation
* SPARX Group
* Sumitomo Mitsui Trust Holdings

Korea|

* Mirae Asset Financial Group
* Samsung Asset Management
* Shinhan Asset Management

Others|

* Eastspring Investments

Methodology: By AUM
Category List

* v
* t
* e

Hedge funds

Investment
strategy|

| Arbitrage /
relative value|

* Capital structure arbitrage
* Convertible arbitrage
* Equity market neutral
* Fixed income arbitrage / fixed-income relative-value investing
* Statistical arbitrage
* Volatility arbitrage

|

Event-driven|

* Shareholder activism
* Distressed securities
* Risk arbitrage
* Special situation

Directional|

* Convergence trade
* Commodity trading advisors / managed futures account
* Dedicated short
* Global macro
* Long/short equity
* Trend following

Other|

* Fund of hedge funds / Multi-manager

Trading|

* Algorithmic trading
* Day trading
* High-frequency trading
* Prime brokerage
* Program trading
* Proprietary trading

Related
terms|

| Markets|

* Commodities
* Derivatives
* Equity
* Fixed income
* Foreign exchange
* Money markets
* Structured securities

|

Misc|

* Absolute return
* Arbitrage pricing theory
* Assets under management
* Black–Scholes model (Greeks: delta neutral)
* Capital asset pricing model (alpha / beta / security characteristic line)
* Fundamental analysis
* Hedge
* Securitization
* Short
* Taxation of private equity and hedge funds
* Technical analysis

Investors|

* Vulture funds
* Family offices
* Financial endowments
* Fund of hedge funds
* High-net-worth individual
* Institutional investors
* Insurance companies
* Investment banks
* Merchant banks
* Pension funds
* Sovereign wealth funds

Governance|

* Fund governance
* Standards Board for Alternative Investments
* Managed Funds Association

* Alternative investment management companies
* Hedge funds
* Hedge fund managers
* List of hedge funds

Authority control databases

International|

* VIAF

National|

* United States

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