NEWPORT BEACH, Calif., August 25, 2000 (PRIMEZONE) -- Pacific Investment Management Company LLC ("PIMCO"), announced today that John Loftus has been named head of domestic marketing.
Mr. Loftus, 41, will retain his role as head of PIMCO product management as he adds domestic marketing to his management responsibilities. The domestic marketing responsibilities were previously managed by Brent Harris who was named co-head of PIMCO's global division, PIMCO Global Advisors, in July. Mr. Loftus was named a PIMCO Managing Director in December of 1999.
In his new position, Mr. Loftus oversees PIMCO's domestic marketing group which is responsible for marketing activities to domestic institutional clients, including pension funds, endowments and foundations, hospitals, corporations, subadvisory relationships, investment consultants and fee-based financial advisors. As head of product management, Mr. Loftus manages all aspects of building and supporting the servicing and marketing of PIMCO's core and specialty investment products managed in Newport Beach.
"John brings to our marketing group strong business building skills in both core and specialty product areas," said William Thompson, PIMCO's Chief Executive Officer. "He was instrumental in building assets under management of more than $20 billion in PIMCO's StocksPLUS equity management strategy, which uses stock index futures backed by a portfolio of fixed income securities."
Mr. Loftus has 17 years of investment experience. He joined PIMCO 14 years ago and was previously employed by Crocker Bank. A graduate of Stanford University, he holds both a bachelor's degree and a master's degree in business administration.
PIMCO, with nearly $200 billion under management, is based in Newport Beach, California. It is a subsidiary of the Munich-based Allianz Group (Euro: ALV) which is a leading global insurance company that is represented in 70 countries around the globe.