PIMCO Names Craig Dawson Head of PIMCO Europe, Middle East and Africa (EMEA)

NEWPORT BEACH, CA--(Marketwired - Feb 1, 2016) - PIMCO, a leading global investment management firm, has named Craig Dawson as Head of Europe, Middle East and Africa, replacing Bill Benz who is retiring after a 30-year career at the company.

Mr. Dawson, a Managing Director and Head of PIMCO's Strategic Business Management, will have oversight responsibility for the firm's business in the region, including PIMCO's London, Munich, Milan, Zurich and Amsterdam offices. Mr. Benz will retire at the end of June 2016.

Mr. Dawson joined PIMCO in 1999, and has held leadership positions across several key areas of the firm. Previously, he was head of PIMCO's business in Germany, Austria, Switzerland and Italy, and Product Management for Europe. Mr. Dawson will relocate to London from Newport Beach, California.

"Europe is a strategically important region for PIMCO, where political, sovereign and macroeconomic events have been at the heart of the market forces shaping the global economy," said Mr. Dawson. "I look forward to continuing the great success that Bill and the team have built over the years in their continued focus on providing investors with the performance, market insights and client service that investors have come to expect from PIMCO around the world."

PIMCO's EMEA business comprises 460 employees in five offices, including two tradefloors, and almost 200 investment professionals managing $520 billion in assets (EUR477 billion) as of 31 December 2015.

"Bill's leadership and dedication have played a significant role in delivering value and excellence to our clients," said Douglas Hodge, Managing Director and PIMCO's Chief Executive Officer. "Bill has built a leading business in the U.K. and across Europe, the Middle East, and Africa, which Craig is perfectly placed to build on given his combination of experience in Europe and oversight of PIMCO's strategic initiatives."

Added Mr. Benz: "Although much has changed during my 30 years at PIMCO, there are two things that have remained constant and are stronger today than when I joined -- the firm's outstanding commitment to client service, and its unwavering focus on consistent, sustained and risk-adjusted investment outperformance for all clients," said Mr. Benz.

Biographies

Craig A. Dawson, CFA

Mr. Dawson is a managing director and head of strategic business management. Previously, he was head of PIMCO's business in Germany, Austria, Switzerland and Italy, and head of product management for Europe. Prior to joining PIMCO in 1999, Mr. Dawson was with Wilshire Associates, an investment consulting firm. He has 21 years of investment experience and holds an MBA from the University of Chicago Booth School of Business. He received his undergraduate degree from the University of California, San Diego.

William R. Benz, CFA

Mr. Benz is a managing director in the London office and head of PIMCO Europe, Middle East and Africa (EMEA). He is the chief executive of PIMCO Europe Ltd., the chairman of PIMCO Funds Global Investors Series plc and is a former member of PIMCO's executive committee. Having joined PIMCO in 1986, he was previously responsible for PIMCO's European client servicing group and, prior to that, oversaw PIMCO's U.S. client servicing efforts out of Newport Beach, California. He has 30 years of investment experience and holds an MBA from Harvard Business School as well as an undergraduate degree from the University of California, Berkeley. Mr. Benz has earned the certified public accountant designation.

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.