PIMCO Names Former White House Advisor Gene Sperling as Consultant on U.S. Economic Policy Issues

NEWPORT BEACH, CA--(Marketwired - Jan 15, 2015) - PIMCO, a leading global investment management firm, has named Gene Sperling, a former principal economic advisor to two U.S. Presidents, as a consultant to the firm on U.S. economic policy issues. Mr. Sperling will participate in PIMCO's Cyclical and Secular Economic Forums, provide input to the firm's Investment Committee, work with the firm's portfolio management group and engage PIMCO's clients around the world.

Mr. Sperling, who was the Director of the National Economic Council and Assistant to the President for Economic Policy in both the Clinton and Obama Administrations, was the first person to serve as NEC Director and principal economic policy advisor for two separate Administrations.

Said PIMCO's Group Chief Investment Officer Daniel Ivascyn: "U.S. policy issues have had significant influence on financial markets since the global financial crisis in 2008, and we expect Gene's policy insights and analysis to be valuable contributions to PIMCO's investment process."

Over the past year, PIMCO has hired 28 senior investment professionals and industry experts in areas ranging from diversified fixed income, alternatives, equities and multi-asset strategies, and global macroeconomic specialties. In October 2014, PIMCO also announced it had re-engaged Professor Michael Spence, a Nobel Laurete in economics, and faculty member of New York University Stern School of Business, as a consultant to the firm on economics and global policy issues.

Biography

Gene B. Sperling

Gene B. Sperling was the Director of the National Economic Council and Assistant to the President for Economic Policy. Upon his appointment on January 7, 2011, Mr. Sperling became the first person to serve as NEC Director and principal economic policy advisor for two presidents: first under President Clinton from 1997 to 2001, and then President Obama from 2011 to 2014. In the Obama Administration, Mr. Sperling played a key role representing the White House in budget negotiations with Congress as well as serving as the White House point person on several of the President's top priorities. Prior to joining the Obama Administration, Mr. Sperling was the founder and Director of the Center for Universal Education at the Council on Foreign Relations and Brookings Institution and was also Senior Fellow for Economic Policy at the Center for American Progress. He is currently president of Sperling Economic Strategies. Mr. Sperling received a B.A. in Political Science from the University of Minnesota and a J.D. from Yale Law School, where he served as a Senior Editor of the Yale Law Journal. He also attended The Wharton School of the 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.