PIMCO Adds Former White House Chief of Staff Joshua Bolten to its Global Advisory Board

NEWPORT BEACH, Calif., March 20, 2018 (GLOBE NEWSWIRE) -- PIMCO, one of the world's premier fixed income investment managers, has added Joshua Bolten, former White House Chief of Staff to U.S. President George W. Bush, to its Global Advisory Board, which provides PIMCO investment professionals with insights on global economic, political, and strategic developments and their relevance for financial markets.

Established three years ago, PIMCO's Global Advisory Board is an important part of the firm's investment process and is designed to provide a deeper understanding of the policies and institutions that influence financial markets. Former Federal Reserve Chairman Ben Bernanke is the Chair of the Board, which is comprised of six members including Mr. Bolten.

Mr. Bolten, who has previously served as a consultant to PIMCO, is the President and CEO of the Business Roundtable in Washington, an association of CEOs of leading U.S. companies. Mr. Bolten served in the White House under President George W. Bush as Chief of Staff from 2006 until 2009, Director of the Office of Management and Budget from 2003 until 2006 and prior to that, Deputy Chief of Staff for Policy.

"Josh's talents, expertise and invaluable insights into U.S. public policy will enhance this group of renowned macroeconomic thinkers and former policy makers," said Dan Ivascyn, PIMCO's Group Chief Investment Officer. "The Board has become an important part of our investment process, helping us to challenge confirmation bias, group-think and challenge our assumptions as we pursue the best investment ideas for our clients."

Aside from Mr. Bolten and Dr. Bernanke, other members of the PIMCO Global Advisory Board are Gordon Brown, former U.K. Prime Minister and former Chancellor of the Exchequer, Ng Kok Song, former Chief Investment Officer of the Government of Singapore Investment Corporation (GIC), Anne-Marie Slaughter, former Director of Policy Planning for the U.S. State Department and Jean-Claude Trichet, former President of the European Central Bank.

Professional Biography

Joshua Bolten is a member of PIMCO's Global Advisory Board, which provides PIMCO investment professionals with insights on the global economic, political and strategic developments and their relevance for financial markets. Mr. Bolten is also the President and Chief Executive Officer of the Business Roundtable in Washington, an association of CEOs of leading U.S. companies. Between 2011 and 2016, he was a Managing Director of Rock Creek Global Advisors, an international economic policy advisory firm he co-founded. Mr. Bolten served in the White House under President George W. Bush as Chief of Staff from 2006 until 2009, Director of the Office of Management and Budget from 2003 until 2006 and prior to that, Deputy Chief of Staff for Policy. Mr. Bolten received an undergraduate degree from Princeton University and a law degree from Stanford University.

About PIMCO
PIMCO is one of the world's premier fixed income investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today we have offices across the globe and 2,150+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

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