In the Margins

PIMCO co-founder dies

October 13, 2015

By BloombergBusiness

Walter Gerken, former chairman and chief executive of Pacific Mutual Life Insurance Co. and co-founder of PIMCO, has died at 93. Gerken led PacLife from 1975 to 1986, and he was influential in the decision to move the company to Newport Beach, Calif., from Los Angeles and also in the founding and growth of Pimco, started as a fixed-income unit of the insurer. Read the original story from BloombergBusiness.