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:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

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