PIMCO's Neel Kashkari to leave firm

NEW YORK Thu Jan 24, 2013 11:04am IST

Neel Kashkari pauses during an interview in San Francisco, California, May 18, 2009. REUTERS/Kimberly White/Files

Neel Kashkari pauses during an interview in San Francisco, California, May 18, 2009.

Credit: Reuters/Kimberly White/Files

Related Topics

Stocks

   

NEW YORK (Reuters) - Neel Kashkari, managing director and head of global equities at bond giant PIMCO, is leaving the firm to consider running for public office in California as a Republican, according to people familiar with the situation.

Kashkari, a former Goldman Sachs banker who oversaw the $700 billion Troubled Asset Relief Program while at the U.S. Treasury, joined PIMCO in December 2009 to lead the firm's new investment initiatives.

One such initiative was PIMCO's expansion into equities. Pacific Investment Management Co., based in Newport Beach, California, launched its first actively managed stock mutual fund in 2010.

When Kashkari joined PIMCO in late 2009, the firm had $940 billion in assets, mostly in fixed income. Assets have more than doubled since then to $1.92 trillion as of September 20, 2012.

The firm, a unit of European insurer Allianz (ALVG.DE), is run by Bill Gross, founder and co-chief investment officer, and Mohamed El-Erian, chief executive and co-chief investment officer.

Kashkari received bachelor's and master's degrees in engineering from the University of Illinois at Urbana-Champaign and a master's in business administration MBA from the Wharton School of the University of Pennsylvania, according to PIMCO's website.

(Reporting by Sam Forgione; Editing by Leslie Adler)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage