PIMCO to 'build and bolster' their portfolio management with new hires

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PIMCO CEO has announced that their will be more new hires for the firm in the near future.

Bloomberg News reports that Pacific Investment Management Co., the $2 trillion asset manager that’s reeling from the sudden departure last week of its co-founderBill Gross, plans to announce new hires in the near future, according to its Chief Executive Officer Douglas Hodge.

'We will continue to build and bolster our portfolio management expertise,' Hodge wrote in a note on the Newport Beach, California-based company’s website. The firm has hired 20 money managers this year, including Geraldine Sundstrom, Rick Chan,Jason Goldberg and Harley Bassman.

The note discussed Gross’s departure, the skills of his successor Daniel Ivascyn, 45, and reiterated that Pimco is sticking with its investment thesis of global growth converging toward lower, more stable speeds and interest rates that remain below their pre-crisis equilibrium.

Hit the link below to access the complete Bloomberg News article:

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