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Pimco appoints leadership team

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Staff writer | Newport Beach, Ca., USA | January 22, 2014
Mohamed A. El-ErianJanuary 22, 2014, Newport Beach, Ca., USA - Pimco, an investment management firm, announced that chief executive officer and co-chief investment officer Mohamed A. El-Erian has decided to step down from his role and leave the firm in mid-March.
Dr. El-Erian re-joined PIMCO at the end of 2007 after serving for two years as president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment and related accounts. Dr. El-Erian also served as a member of the faculty of Harvard Business School. He first joined PIMCO in 1999 and was a senior member of PIMCO's portfolio management and investment strategy group.

Before coming to PIMCO, Dr. El-Erian was a managing director at Salomon Smith Barney/Citigroup in London and before that, he spent 15 years at the International Monetary Fund in Washington, D.C. Dr. El-Erian has published widely on international economic and finance topics. He was named to Foreign Policy’s list of “Top 100 Global Thinkers” for 2009, 2010, 2011 and 2012.

Dr. El-Erian has served on several boards and committees, including the U.S. Treasury Borrowing Advisory Committee, the Peterson Institute for International Economics and the IMF's Committee of Eminent Persons. In December 2012, he was appointed Chair of the President’s Global Development Council. He is currently a board member of the NBER, where he serves on the Executive Committee, as well as the Carnegie Endowment for International Peace.

He holds a master's degree and doctorate in economics from Oxford University and received his undergraduate degree from Cambridge University. He will remain a member of the Allianz International Executive Committee and, as of mid-March, also advise the Board of Management of Allianz on global economic and policy issues.

At the same time, the firm has appointed a new portfolio management and executive leadership team. They will immediately begin to transition into their new roles.

Portfolio Management leadership appointments:

Andrew Balls, Deputy Chief Investment Officer

Mr. Balls is a Managing Director in the London office, a member of the Investment Committee and head of European portfolio management. He leads PIMCO's European investment team (which is based in London and Munich) and manages a range of global and European portfolios, including PIMCO’s Global Advantage strategy, combining developed and emerging fixed income markets. He is also a member of the PM Management Group, overseeing PIMCO’s global interest rate and foreign exchange teams.

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.

Daniel Ivascyn, Deputy Chief Investment Officer

Mr. Ivascyn is 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.

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.

Business Management leadership appointments:

Douglas Hodge, Chief Executive Officer

Mr. Hodge is a Managing Director in the Newport Beach office and PIMCO's Chief Executive Officer-elect. He is currently PIMCO’s Chief Operating 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.

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, President

Mr. Jacobs is a Managing Director in the Newport Beach office and PIMCO’s President-elect. He is currently the Head of Talent Management globally. Previously, 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.

Craig Dawson, Head of Strategic Business Management

Mr. Dawson is a Managing Director and Head of Strategic Business Management. He is currently based in the Munich office and is also responsible for PIMCO's business in Germany, Austria, Switzerland and Italy. He is also Head of Product Management for Europe. Prior to joining PIMCO in 1999, Mr. Dawson was with Wilshire Associates, an investment consulting firm.

He has 19 years of investment experience and holds an MBA from the University of Chicago Graduate School of Business. He received his undergraduate degree from the University of California, San Diego.

PIMCO’s founder William H. Gross will continue to serve as the firm’s Chief Investment Officer.