Pimco said on Tuesday it has rehired Paul McCulley, who was previously a portfolio manager and the bond giant's top analyst of the U.S. Federal Reserve's policies, in the latest management change after the departure of the firm's chief executive Mohamed El-Erian earlier this year. The firm, which oversaw $1.94 trillion at the end of March, said McCulley will be its chief economist, a newly created role, and will report to Bill Gross, co-founder and chief investment officer. McCulley will assume much of El-Erian's role as Pimco's public face in leading "discussion on global macroeconomic issues and central bank policy, writing and publishing commentary, and speaking with Pimco's clients around the world," the firm said in a statement.
via Business News - Yahoo Finance http://ift.tt/1whsci7
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