PIMCO Adds Experienced Equity Investors to Value, Growth and Long/Short Strategies

NEWPORT BEACH, CA--(Marketwired - Oct 9, 2014) - PIMCO, a leading global investment management firm, has hired Megan Kulick, Mark Richards, Daniel Lacalle, Chris Legg and Akash Ghiya to join its global equities teams. These five investment professionals add to other recent hires to further build out PIMCO's equity investing platform globally. Including these new professionals, PIMCO has hired 20 senior portfolio managers thus far in 2014 in fixed income, alternatives, equities and macroeconomic specialties.

Ms. Kulick will be a Senior Vice President focused on the Pathfinder value strategy, based in New York. Mr. Richards will be a Senior Vice President focused on macroeconomic research, based in London. Mr. Lacalle, who will be a Senior Vice President and Mr. Legg, who will be a Vice President, will both be part of the build-out of a global growth team and also based in London. Mr. Ghiya will be Vice President on the long/short equity strategy based in Newport Beach.

"With these new hires, we've now added equity specialists this year for our value, dividend, long/short and growth strategies, with expertise in technology, media, telecoms, financials, commodities and energy," said Virginie Maisonneuve, Managing Director, Chief Investment Officer (Equities) and Global Head of Equities. "We continue to build our equity effort by selectively adding strong bottom-up equity specialists and analysts who thrive in picking stocks within a coherent macroeconomic and secular framework and leverage the great resources that PIMCO has to offer."

"The 20 senior investment professionals we've hired this year enhance our equity, diversified fixed income, alternative strategies and our global macroeconomic expertise -- strategies which now account for two-thirds of PIMCO's total assets under management," said Douglas Hodge, Managing Director and PIMCO's Chief Executive Officer. We will continue to add top talent to join our deep bench of more than 260 portfolio managers," Mr. Hodge added.

PIMCO's equity offerings span a range of strategies and styles, from active long/short, dividend, emerging market and value strategies to the innovative StocksPLUS suite of equity solutions, totaling more than $55 billion in assets under management as of 30 June 2014.

Biographies:

Megan Kulick

Ms. Kulick will be a Senior Vice President based in the New York office, focusing on PIMCO's Pathfinder value strategy and reporting to Anne Gudefin, Executive Vice President and Portfolio Manager for Pathfinder. She will start Oct. 16. Prior to joining PIMCO, Ms. Kulick was a partner and senior investment analyst at Steinberg Asset Management in New York, where she was a senior member of the portfolio management team overseeing $1.9 billion in assets across strategies encompassing small- and mid-cap and value. Prior to this, Ms. Kulick held roles in equity research analysis at various firms including Merrill Lynch, JP Morgan Chase and Intrepid Capital Management. Ms. Kulick holds an MBA from Columbia University and a BBA with Honors from the University of Michigan's School of Business Administration.

Mark Richards

Mr. Richards will be a Senior Vice President in the London office responsible for equities macroeconomic research and will report to Virginie Maisonneuve. He will start Nov. 3. Prior to joining PIMCO, Mr. Richards was a director at Credit Suisse covering asset allocation and global equity strategy. He was also a pan-European equity strategist at ING Wholesale Bank and an economist at Lombard Street Research. Mr. Richards holds a first class Bachelor of Science in Business Economics from the University of Surrey.

Daniel Lacalle

Mr. Lacalle is joining PIMCO as a Senior Vice President in the London office focusing on energy and utilities. He will report to Virginie Maisonneuve and will start Nov. 1. Prior to joining PIMCO, Mr. Lacalle worked for Ecofin Limited as a senior portfolio manager in equities and fixed income focused on the global oil and gas, infrastructure and utilities sectors. He also spent two years at Citadel Investment Group managing equity portfolios in the European energy and utilities sectors. Prior to that, he held a variety of positions with firms like ABN Amro Bank, Enagas and Repsol. Mr. Lacalle holds a Masters Degree from the Universidad Catolica de Valencia and a Postgraduate Degree in Economics from IESE Business School.

Chris Legg

Mr. Legg will be a Vice President in the London office. He will be a global sector specialist focused on commodities and will report to Virginie Maisonneuve. He will start Dec. 1. For the last six years, Mr. Legg has worked at Nevksy Capital, a global hedge fund, as an analyst focused primarily on the commodities sector. Prior to that, he worked at Credit Suisse covering telecoms and at PricewaterhouseCoopers as a consultant. Mr. Legg holds an MSc in Mathematics from the University of Bristol.

Akash Ghiya

Mr. Ghiya will be a Vice President in the Newport Beach office as an analyst on the long/short strategy and will report to Geoff Johnson, Executive Vice President and Portfolio Manager for the PIMCO Long/Short Strategy. He will start in mid-October. For the last five years, Mr. Ghiya has been a partner at Pine Cobble Capital LLC, focused on long/short credit and equity investments for an event-driven hedge fund. Prior to this, he was an analyst at Oak Creek Asset Management in New York and has also worked at Spectrum Equity Investors in Boston and Lehman Brothers in New York. Mr. Ghiya holds a BS in Economics and an MBA, both from The Wharton School, University of Pennsylvania.

About PIMCO

PIMCO is a leading global investment management firm, with 13 offices in 12 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.