PIMCO Names Joachim Fels as Managing Director and Global Economic Advisor

NEWPORT BEACH, CA--(Marketwired - Feb 10, 2015) - PIMCO, a leading global investment management firm, has hired Joachim Fels as a Managing Director and Global Economic Advisor. Mr. Fels will be based in Newport Beach, California, reporting to Daniel Ivascyn, PIMCO's Group Chief Investment Officer.

Said Mr. Ivascyn: "Joachim is a highly regarded global economic expert who will bring tremendous insights and make significant contributions to PIMCO's investment process. He will join what we believe is the most talented and strongest team of portfolio managers in the investment management industry, who have repeatedly demonstrated their skills by consistently delivering value to our clients."

Mr. Fels was a Managing Director and Chief Economist at Morgan Stanley, based in London. During his 19 years with Morgan Stanley, he also held positions including Chief International Economist, Chief Global Fixed Income Economist and Co-Head of European Economics.

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. Recent hires include:

• Marc Seidner, Managing Director and Portfolio Manager who re-joined the firm as Chief Investment Officer - Non-traditional strategies.
• Nobel Laureate Economist Professor Michael Spence, a faculty member of New York University Stern School of Business, who is a consultant to the firm on macroeconomic and global policy issues.
• Gene Sperling, a former principal economic advisor to Presidents Clinton and Obama, who is a consultant on U.S. economic policy issues.
• Geraldine Sundstrom, a Managing Director and Portfolio Manager in PIMCO's Asset Allocation business, joins the firm this week.
  
  

Biography

Joachim Fels

Mr. Fels will join PIMCO as a Managing Director and Global Economic Advisor based in PIMCO's office in Newport Beach. Prior to joining PIMCO, Mr. Fels was a Managing Director and Chief Economist at Morgan Stanley, based in London. During his 19 years with Morgan Stanley, he also held positions including Chief International Economist, Chief Global Fixed Income Economist and Co-Head of European Economics. From 1992 to 1996, Mr. Fels worked for Goldman Sachs as an Executive Director and International Economist and prior to this was a Research Associate at Kiel Institute for the World Economy in Kiel, Germany for five years. He was also a founding member of the ECB Shadow Council, which he served on from 2002 to 2008 and a member of the Economic and Monetary Committee of the Association of German Banks from 2002 until 2010. Mr. Fels holds a Diploma in International Studies from the Johns Hopkins University School of Advanced International Studies in Bologna, Italy, an MSc in Economics from Universität des Saarlandes in Saarbrücken, Germany and a BSc in Economics from Christian-Albrechts-Universität in Kiel, Germany.

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.