Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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 Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter