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

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

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