PIMCO has appointed former US Federal Reserve chairman, Ben Bernanke, as the chairman of its newly created global advisory board.
Mr Bernanke will take up the role of chairman of PIMCO’s global advisory board, set up to provide geopolitical and macroeconomic insight to the investment firm.
PIMCO group chief investment officer Dan Ivascyn said: “The global advisory board is an unrivalled team of macroeconomic thinkers and former policymakers, whose insights into the intersection of policy and financial markets will be a valuable input to our investment process.”
PIMCO has also appointed former UK prime minister Gordon Brown, former chief investment officer of the Government of Singapore Ng Kok Song, president and chief executive of New America Anne-Marie Slaughter, and former ECB president Jean-Claude Trichet to the board.
Commenting on his appointment, Mr Bernanke said: “I am honoured to chair a board of individuals I hold in the highest esteem.”
“We are all excited by the opportunity to provide PIMCO’s strong team of investment professionals with our collective view on how global economic, political, and strategic developments will affect markets and PIMCO’s clients.”
PIMCO chief executive Douglas Hodge said: “Our clients will benefit greatly from the experience and insight the global advisory board will provide to us.
“Sharing insights on how global macroeconomic and geopolitical policy affects markets and investments is an important part of the value we bring to investors as stewards of their assets.”
The advisory board will meet several times per year.
The global association of investment management professionals has announced the appointment of a new chairman and vice-chair of its board of...