NEWPORT BEACH, Calif., March 18, 2002 (PRIMEZONE) -- PIMCO, one of the world's leading fixed-income asset management companies, is pleased to announce the promotion of nine employees to the position of Executive Vice President.
The new Executive Vice Presidents are:
-- Michael R. Asay, PhD, a portfolio manager responsible for overseeing PIMCO's financial-engineering group. Dr. Asay joined the firm in 1998, having been previously associated with the fixed-income divisions of Goldman Sachs. He developed fixed-income trading strategy and quantitative analytics for the Asian and European markets with tours of duty in Tokyo and London. Dr. Asay has published extensively in both practitioner and academic journals. He has 24 years of investment experience and holds a doctorate in financial economics from the University of Southern California. -- Shannon M. Bass, a senior member of PIMCO's investment strategy group and credit team. A portfolio manager, Mr. Bass also manages and trades investment-grade corporates for the firm. He joined PIMCO in 2001, having been previously associated with the fixed-income division of Lehman Brothers, where he served as managing director. Mr. Bass has 12 years of investment experience and holds a bachelor's degree in electrical engineering from the University of California at San Diego and an MBA from the Leonard N. Stern School of Business at New York University. -- Mark T. Hudoff, who serves as a portfolio manager and director of credit research-Europe. Mr. Hudoff joined the firm in 1996, having been previously associated with Bank Credit Analyst Research Group, where he worked as a fixed-income strategist. Mr. Hudoff has 15 years of investment experience; he holds a bachelor's degree in economics from Arizona State University and an MBA in finance from the University of Chicago School of Business. -- Mark R. Kiesel, a generalist portfolio manager and a senior member of PIMCO's investment strategy and portfolio-management group. He also co-heads the investment-grade corporate desk and manages corporate portfolios for the firm. Previously, Mr. Kiesel served as PIMCO's head of equity derivatives and as a senior credit analyst. Mr. Kiesel joined the firm in 1996, having been previously associated with the sales and trading divisions of Merrill Lynch and JP Morgan. He has eight years of investment experience and holds a bachelor's degree in economics from the University of Michigan and an MBA in finance, economics, and international business from the University of Chicago Graduate School of Business. -- David C. Lown, director of technology at PIMCO. Mr. Lown joined the firm in 1995, having been previously associated with the fixed-income division of Salomon Brothers. He has 11 years of technology, financial management and strategic-planning experience, and holds a bachelor's degree in finance and an MBA in finance and marketing from Lehigh University. -- Jonathan D. Moll, a member of PIMCO's account-management group. Mr. Moll manages the client-relationship team, which services institutional commingled fund clients. Before joining PIMCO in 1998, Mr. Moll worked with Hewitt Investment Group as an investment consultant, Federated Investors as a fixed-income analyst, and Exxon Corporation as a financial analyst within its pension team. He has 10 years of investment experience. Mr. Moll holds a bachelor's degree in chemistry from Gettysburg College and an MBA in investment finance from Carnegie Mellon University. -- John F. Wilson, regional director-Asia Pacific. He joined the firm in 1997, and is responsible for PIMCO's Australian business. Prior to joining PIMCO, he was employed in the emerging-markets group of Morgan Stanley, and also served as a senior associate with the New York law firm of Sherman & Sterling, where he worked on debt and equity issuance in Latin America. He began his career with JP Morgan Investment. Mr. Wilson holds a bachelor's degree in history and bachelor's of laws degree from the University of Melbourne and a masters in laws degree from Duke University. -- Susan L. Wilson, an account manager, joined the firm in 1999, having been previously associated with the Frank Russell Company for 12 years as a senior research analyst, responsible for researching, evaluating and formulating Russell rankings on bond managers. Ms. Wilson has 15 years of investment experience and holds a bachelor's degree in economics from the University of Puget Sound. -- Changhong Zhu, PhD, a portfolio manager, manages and trades global derivatives for the firm. Dr. Zhu joined the firm in 1999, having been previously associated with Investment Portfolio of BankAmerica, where he focused on derivatives trading and modeling. He holds a bachelor's degree in physics from the University of Science and Technology of China and a PhD in physics from the University of Chicago.
Also promoted, to the position of Senior Vice President, were: Stephen B. Beaumont, Sabrina C. Callin, David J. Dorff, Yuri P. Garbuzov, Stephen S. Goldman, Ray C. Hayes, Daniel J. Ivascyn, Steven P. Kirkbaumer, Akinori Matsui, Douglas J. Ongaro, Mark J. Porterfield, Mark A. Romano, Kyle J. Theodore, and Cheng-Yuan Yu.
With more than $250 billion in fixed-income assets under management, PIMCO is one of the world's leading fixed-income fund-management companies. Founded in 1971 and based in Newport Beach, California, the company is majority owned by Munich-based Allianz Group, a leading global insurance company with nearly $1 trillion in assets and represented in 70 countries around the globe.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.