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Thursday, May 28, 2009

PIMCO Names a New C-Level Exec

Reported by Meredith Mazzilli

PIMCO revealed Thursday the appointment of former COO Richard M. Weil as its new global head of PIMCO Advisory. Weil is succeeded as COO by Douglas Hodge, PIMCO's former head of Asia Pacific.

Weil had served as COO since 2000, and previously acted as managing director and general counsel of PIMCO Advisors.

Mohamed El-Erian, PIMCO CEO and co-CIO, stated that "Weil brings strong leadership and solid experience to our advisory business, which has grown rapidly over the past several years to serve the needs of our public and private sector clients around the world."

Hodge joined PIMCO in 1989, and has been based in PIMCO's Tokyo office since 2002.

With regards to Hodge's new role as COO, El-Erian noted that, "Hodge will bring to the role of COO his proven expertise, a powerful global perspective, and great energy."


Company Press Release

PIMCO Appoints Richard Weil as Global Head of PIMCO Advisory and Douglas Hodge as Chief Operating Officer of PIMCO

NEWPORT BEACH, CA--(Marketwire - May 28, 2009) - PIMCO, a leading investment management firm, has appointed Richard M. Weil as Global Head of PIMCO Advisory. Douglas Hodge, PIMCO's head of Asia Pacific, has been appointed as PIMCO's new Chief Operating Officer, succeeding Mr. Weil in that role.

"Dick Weil brings strong leadership and solid experience to our advisory business, which has grown rapidly over the past several years to serve the needs of our public and private sector clients around the world," said Mohamed A. El-Erian, PIMCO's Chief Executive Officer and co-Chief Investment Officer. "After spending seven years in Tokyo building a very successful Asia-Pacific business, Doug Hodge will bring to the role of COO his proven expertise, a powerful global perspective, and great energy. We look forward to Dick and Doug's continued contributions in these important assignments to PIMCO's ability to serve our growing client base," added Mr. El-Erian.

PIMCO Advisory provides asset valuation and monitoring services to clients, customized risk management and liability matching, and asset liquidation management. It serves both public and private sector clients around the world.

Professional background of Richard M. Weil
Mr. Weil is a managing director in the Newport Beach office, and a member of the executive committee. Prior to his appointment leading PIMCO Advisory, he served as COO of PIMCO since 2000. Mr. Weil previously served as managing director and general counsel of PIMCO Advisors and led its corporate services division. Prior to joining PIMCO in 1996, he was with Bankers Trust in global asset management and Simpson Thacher in New York. He has 20 years of investment experience and holds a J.D. from the University of Chicago Law School. He received his undergraduate degree from Duke University.

Professional background of Douglas Hodge, CFA
Mr. Hodge is a managing director and has been based in PIMCO's Tokyo office since 2002, overseeing all aspects of business across the Asia Pacific region, including management of PIMCO's four offices there: Hong Kong, Singapore, Sydney and Tokyo. He joined PIMCO in 1989, and has since served on the firm's executive committee, as a senior account manager responsible for client relationships worldwide, and as a global product manager. He has 25 years of investment experience and holds an MBA from Harvard Business School. He received an undergraduate degree from Dartmouth College.

About PIMCO
PIMCO is a global investment management firm that was founded in Southern California in 1971. The firm manages investments for an array of clients, including retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Its clients include state, municipal and union pension and retirement plans, individual and investment saving accounts, and public sector reserve management.

PIMCO Advisory is a leader in analyzing, designing and managing complex asset solutions, drawing on the firm's nearly four decades of experience in various market segments around the world. It provides advisory and structured credit services to private and public institutions and offers services at both the portfolio and individual credit level. PIMCO has more than 1,200 employees, which includes 800 people at its headquarters in Newport Beach, California. The firm also has offices in New York City, Toronto, London, Munich, Amsterdam, Tokyo, Hong Kong, Singapore and Sydney.  

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