Word: pimco
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Dates: during 2000-2009
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Mohamed A. El-Erian, president and chief executive officer of Harvard Management Company (HMC), will leave at the end of 2007 to take a job at his former employer, California-based Pacific Investment Management Company (PIMCO...
...when it comes to correcting the system when it gets out of whack, we're talking years, not weeks. "Real estate," says housing economist Thomas Lawler, "is a slow, tedious process." In July, after the two Bear Stearns hedge funds first ran into trouble, bond guru Bill Gross of Pimco wrote a foreboding investment outlook, pointing out that hedge funds tied up in trading are the top layer of the problem, not the root. That can be demonstrated in the Mile High City and, as Gross wrote, "in the Summerlin suburbs of Las Vegas, Nevada, and in the extended city...
...problematic for the world’s ‘stable disequilibrium.’ He also said that the US housing market poses a significant risk. El-Erian, who holds a doctorate in economics from Oxford University, joined HMC in mid-February from Pacific Investment Management Company (PIMCO) after having served as a senior official at the International Monetary Fund and as head of emerging market research at Salomon Smith Barney/Citibank. El-Erian said that many people had trouble understanding his decision to leave PIMCO, where he was chief of the $28 billion emerging markets portfolio...
...resume that boasts a 15-year stint at the International Monetary Fund (IMF) as well as a shorter one at the brokerage of Salomon Smith Barney. Prior to accepting the HMC position, El-Erian was managing a $28 billion emerging market portfolio at the Pacific Investment Managing Company (PIMCO), an endowment slightly larger than Harvard’s $25.9 billion war chest. All of this makes El-Erian supremely qualified. Considering that financial managers can find similar jobs for higher pay and less visibility, the search committee must be congratulated for their excellent choice. It is also an appropriate...
...billion war chest, Harvard announced Friday, concluding its extended search for a new custodian of the largest endowment in higher education.The appointment of El-Erian, 47, will bring Harvard one of the most visible names in the field of emerging markets. He hails from Pacific Investment Management Company (PIMCO), where he leads the emerging market portfolio team and manages over $28 billion in emerging market debt.El-Erian will fill the CEO slot at Harvard Management Company (HMC), a position left vacant since the departure two weeks ago of former chief Jack R. Meyer. Meyer exited after 15 years at Harvard...