Contact Information: PIMCO Mark Porterfield 949-720-6397 www.pimco.com
PIMCO Names Two New Managing Directors
| Source: PIMCO
NEWPORT BEACH, CA -- (MARKET WIRE) -- January 22, 2007 -- PIMCO today announced the promotion of
Daniel Ivascyn and Mark McCray to the level of Managing Director.
Daniel J. Ivascyn
Mr. Ivascyn is a portfolio manager and a member of PIMCO's structured
products team. He joined PIMCO in 1998, previously having been associated
with Bear Stearns in the asset backed securities group as well as T. Rowe
Price and Fidelity Investments. Mr. Ivascyn has fourteen years of
investment experience and holds a degree in economics from Occidental
College and an MBA in analytic finance from the University of Chicago
Graduate School of Business.
Mark V. McCray
Mr. McCray is the portfolio manager responsible for the firm's municipal
bond and tax-sensitive portfolios. He currently serves as Chairman of
PIMCO's Shadow Investment Committee. He joined the firm in 2000 from
Goldman, Sachs & Co. in New York, where he was co-head of municipal bond
trading. Mr. McCray has nineteen years of investment experience and holds
bachelor's degrees in finance and real estate from Temple University and an
MBA from The Wharton School of the University of Pennsylvania.
With more than $668 billion in fixed-income assets under management in the
US, PIMCO is one of the world's leading fixed-income fund-management
companies. Founded in 1971 and based in Newport Beach, California, the
company is majority owned by Munich-based Allianz Group, a leading global
insurance company with nearly $1 trillion in assets and represented in 70
countries around the globe.
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.