Richard Clarida is set to rejoin PIMCO as managing director and global economic advisor, in a similar role to the one he held in his previous 12 years at the firm.
Clarida, who is former vice-chair of the board of governors of the Federal Reserve System, will rejoin the firm in October and be based in PIMCO's New York office. Meanwhile, Joachim Fels, current managing director and global economic advisor of PIMCO, is set to retire from the firm at the end of the year after almost 40 years in the industry. Fels joined PIMCO in 2015, and as a leader of the firm's annual secular forum, helped establish macroeconomic guardrails on how the firm approached investing over a three to five year period. PIMCO appoints CIO for portfolio implementatio...
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