PIMCO Hires David Hammer as Executive Vice President and Portfolio Manager for Municipal Bond Portfolio Management

NEWPORT BEACH, CA--(Marketwired - Mar 6, 2015) - PIMCO, a leading global investment management firm, has hired David Hammer as an Executive Vice President and Portfolio Manager for Municipal Bond Portfolio Management. Mr. Hammer, who is re-joining the firm, will be based in New York and will report to Joe Deane, Executive Vice President and Head of PIMCO's Municipal Bond Portfolio Management.

"David's expertise in municipal bond trading, research and portfolio management is a tremendous enhancement to our seasoned municipal bond portfolio management team," said Marc Seidner, Managing Director, Chief Investment Officer for Non-Traditional Strategies and PIMCO's Head of New York Portfolio Management. "PIMCO's deep credit-by-credit research capabilities in the municipal bond market, backed by the consistency of the firm's investment process, are important strengths in generating outperformance for muni investors."

Mr. Hammer has 13 years of investment experience. He first joined PIMCO in 2012 as a Senior Vice President and left in 2014 to join Morgan Stanley, where he was Managing Director, Head of Municipal Trading and Research, responsible for institutional and retail municipal trading, risk management and municipal credit research.

Biography

David Hammer

Mr. Hammer will be an Executive Vice President and Municipal Bond Portfolio Manager based in New York. He first joined PIMCO in 2012 as a Senior Vice President. In 2014, he joined Morgan Stanley as Managing Director, Head of Municipal Trading and Research, responsible for institutional and retail municipal trading, risk management and municipal credit research. Prior to joining PIMCO in 2012, he was an Executive Director at Morgan Stanley, where he served as head of the high yield and distressed municipal bond trading group. Mr. Hammer holds a Bachelor's Degree from Syracuse University.

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.