Next year, a fundster is taking over a 571-year old college in England.

Mohamed El-Erian Allianz Chief Economic Adviser

Yesterday the governing body of Cambridge's Queens' College confirmed that on October 1, 2020, Mohamed El-Erian will become the 42nd president of the college. He will succeed John Eatwell, who has led the school since 1997.

Bloomberg and CNBC picked up on the news.

El-Erian, one of the most powerful people in finance and a backer of a P2P lender, currently serves as chief economic advisor to the management board of Allianz [profile] and as a member of the German multinational's international executive committee. He was previously rumored to be in the running for vice chair of the Federal Reserve, he is a contributor to the FT and Bloomberg, he chairs Microsoft's investment advisory committee, and he chaired the global development council under President Obama.

"I am particularly privileged to return to Queens' at a time of great change, not only in social and economic affairs, but also due to exciting technological innovations that influence education and our society in so many ways," El-Erian states. "Underpinned by our deep commitment to academic excellence, we will work in an inclusive way to continue to broaden access, deepen diversity and promote an ever more supportive environment for intellectual curiosity, deep learning and impactful research."

El-Erian is an alumnus of Queens' (and also of Oxford). He joined Allianz in 2014 after famously leaving Pimco.

El-Erian started his career at the IMF, where he worked for 14 years, eventually rising to deputy director. He worked at Salomon Smith Barney and then spent seven years at Pimco. After a couple of years leading Harvard Management Company, El-Erian returned to Pimco in 2007 as co-CEO and co-CIO, and he became the sole CEO in 2008. 

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