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.

 

 

Most Read

10 Things
10 Things...to read in summer 2024

It's the Summer Solstice, and that means that for most of us the sun is shining, temperatures are heating up, and longer days allow for pursuits ...

Top of the Agenda - Compensation
Fund board pay increases in 2023, MPI survey says

Independent mutual fund directors saw an increase in compensation in 2023, on average, although actual compensation levels and percentage adjustments in compensation continue to vary widely ...