PIMCO, a leading global investment management firm, has just announced that Dr. Ben Bernanke, former Chairman of the Federal Reserve, will serve as a senior advisor to the firm, contributing his economic expertise and insights to the firm’s investment process and periodically engaging PIMCO’s clients.
It seems that the well-respected former head of the Fed is not content with his retirement coming down to just staying home and blogging about baseball. PIMCO, with $1.59 trillion assets under management, will certainly allow him to be more active while cashing in on his fame.
“We are honored to have Dr. Bernanke serve as an advisor to PIMCO, and look forward to benefitting from his extraordinary knowledge and expertise to help us add value for our clients. His unrivalled experience in navigating the global economy through the Financial Crisis will provide PIMCO’s investment professionals with unique insights as we help our clients amidst a challenging and uncertain period for global markets in coming years,” said Douglas Hodge, PIMCO’s Chief Executive Officer.
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“During his recent participation in two of our quarterly economic forums, Dr. Bernanke provided significant insights about global macroeconomic issues and monetary policy, and we are confident that our ongoing relationship with him will further enhance our robust investment process,” said Daniel Ivascyn, PIMCO’s Group Chief Investment Officer.
“I am delighted to work together with PIMCO’s strong team of investment professionals and contribute to its investment process in my role as an advisor to the firm,” said Dr. Bernanke.
This is already the second such role that the former Fed chairman has assumed in the last two weeks, joining Citadel Investment Group earlier this month.