In the Margins

CEO says PIMCO will staff up over next year

May 2, 2017

By Bloomberg

PIMCO CEO Manny Roman plans to add 100 employees over the next year in a renewed push for growth. Instead of focusing on cutting costs and fees to compete, PIMCO intends to spend on hiring and technology to become better, Roman said in an interview Monday during the Milken Institute Global Conference in Beverly Hills, Calif. “As we become more of a technology company and more ‘quanty,’ we also face different competitors,” he said. “The issue is not to compete for someone to come to us from Goldman Sachs. It’s against SpaceX,” he said, referring to Elon Musk’s spacecraft firm. Read the original story from Bloomberg.