PIMCO Hires Harley S. Bassman as Executive Vice President and Portfolio Manager

NEWPORT BEACH, CA--(Marketwired - Mar 10, 2014) - PIMCO, a leading global investment management firm, has hired Harley Bassman as an Executive Vice President and Portfolio Manager. He will join the firm on July 7, 2014 and will be based in the Newport Beach office.

"Harley is a seasoned and highly regarded investor who will further strengthen PIMCO's portfolio management team," said Josh Thimons, Managing Director and Portfolio Manager. "Our clients will benefit from Harley's insight and expertise which he has honed over a nearly 30-year career in the investment industry," added Mr. Thimons.

In his new role at PIMCO, Mr. Bassman will report to Mr. Thimons and Steve Rodosky, also a Managing Director and Portfolio Manager in the Newport Beach office.

Biography

Mr. Bassman was most recently a Managing Director at Credit Suisse in the Investment Banking division, based in New York.

While there he was a member of the Fixed Income Department's Global Rates business where under the moniker "The Convexity Maven" he identified and integrated investment and hedging opportunities for sophisticated investors.

Previously, he spent 26 years at Merrill Lynch in a variety of senior roles, including creating, marketing and trading a wide variety of derivative and structured products.

During his career at Merrill Lynch, Mr. Bassman created the trademarked OPOSSMS and PRESERV mortgage risk management products. Later he designed the well-known MOVE Index, the benchmark Interest Rate Volatility gauge. Subsequently, he managed the firm's North American MBS and Structured Finance trading group before building The RateLab, a full spectrum US Rates Trading desk strategy group.

Mr. Bassman earned his B.A. in Management Science from the University of California, San Diego, and an M.B.A. from the University of Chicago.

About PIMCO

PIMCO is a leading global investment management firm, with offices in 13 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 statement.