SOURCE: PIMCO

August 05, 2008 11:15 ET

PIMCO Hires Jerome Schneider as Finance Specialist

NEWPORT BEACH, CA--(Marketwire - August 5, 2008) - PIMCO, one of the world's leading investment management companies, has hired Jerome Schneider as an Executive Vice President, Portfolio Manager, and Finance Specialist.

In this new position, Schneider will have primary responsibility for financing operations and collateral management, as well as significant duties in cash investing. He started in the firm's Newport Beach headquarters in early August. Schneider will report to Paul McCulley, Managing Director and head of the firm's Short-term Desk.

"Recruiting top notch talent has always been a central component of PIMCO's commitment to being one of the best investment management firms in the world," said Paul McCulley. "We look forward to having someone with Jerome's experience on our team."

Schneider comes to PIMCO from Bear Stearns & Company Inc. where he was a Senior Managing Director responsible for managing fixed-income's Liquid Funding program. He had been with the firm for 13 years. Schneider holds a Bachelor of Arts in Economics and International Relations from the University of Pennsylvania and a MBA from New York University's Stern School of Business.

About PIMCO

With more than $830 billion assets under management, PIMCO is one of the world's leading fund-management companies. Founded in 1971 and based in Newport Beach, California, the company is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company with nearly $1.5 trillion in assets and represented in 70 countries around the globe.

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