Over the weekend, reports emerged of President Obama's possible picks for Federal Reserve Board governor posts and one of the names is an executive from Pimco [see profile]
The President plans to nominate Pimco executive vice president Richard Clarida
and Harvard University professor Jeremy Stein
, Bloomberg reported
The Wall Street Journal
Obama's plans for filling the Fed Board seats.
Clarida, 54, is an executive vice president in Pimco's New York office and served as the company's global strategic advisor. He has been with Pimco since 2006. Previously, he worked in the Treasury Department from February 2002 until May 2003. He also served as chairman of Columbia University's economics department. His resume also includes stints with Credit Suisse and Grossman Asset Management.
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