Paul McCulley is retiring from Pimco at the end of the year, capping a career that spanned 27 years in money management, Bloomberg reports. The 53-year-old McCulley, who oversees Pimco's short-term bond desk and is a member of company's 10-person committee that sets investment strategy, will join think tank Global Independence Center after taking some time off.

McCulley oversees funds such as Pimco Short-Term Fund and Pimco Money Market Fund. His duties will be assumed by others on the investment team.

McCulley started at Pimco in 1990, left to join UBS in 1992 and returned to the Newport Beach, California-based firm in 1999.  

Edited by: Armie Margaret Lee


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