Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Pimco's El-Erian to quit US bond giant

Pimco's El-Erian to quit US bond giant

Pimco chief executive and co-chief investment officer Mohamed El-Erian is  to leave after 15 years with the Californian bond giant.

El-Erian will relinquish his fund manager responsibilities and step back from his position as co-chief investment officer before fully departing in March.

He is set to take on an advisory role at Allianz where he will advise the board of management on global economic and policy issues.

Douglas Hodge, the firm’s current chief operating officer, will replace him as chief executive officer.

Pimco said Bill Gross, El-Erian’s co-CIO, will remain in his role and will  be supported by bond manager Andrew Balls and income specialist Dan Ivascyn, who have been named as deputy co-chief investment officers.

Also, Jay Jacobs will move from heading up Pimco’s German business to serve as president and Craig Dawson is named head of strategic business management, having previously been head of Pimco Germany, Austria, Switzerland and Italy.

Commenting on the changes, Bill Gross said: ‘Mohamed has been a great leader, business builder and thought leader for Pimco and our clients.’

‘Together we have guided the firm and served out clients during a period of significant change in the global economy and financial markets. We are pleased he will remain as part of the Allianz Group.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter