A former chief of staff to US President George W. Bush has joined the global advisory board of Pimco.
Stepping into the role, Joshua Bolten will advise Pimco investment staff with “insights on global economic, political, and strategic developments and their relevance for financial markets,” according to a statement by the fixed income investment manager.
Mr Bolten was President Bush’s chief of staff between 2006 and 2009. Before that, he served as director of the office of management and budget and, prior to that, was deputy chief of staff for policy.
He is currently president and chief executive of Business Roundtable, an American association of chief executives, and also has experience in the private sector in addition to two decades of government service.
Mr Bolten has previously held roles at Goldman Sachs London as well as Washington, DC’s O’Melveny & Myers.
In 2011, he co-founded international economic and regulatory policy consulting firm Rock Creek Global Advisors, where he was managing director.
Mr Bolten also has experience in academia as a visiting professor at Princeton University’s Woodrow Wilson School of Public and International Affairs.
Commenting on the appointment, Pimco group chief investment officer Daniel Ivascyn said: “Josh’s talents, expertise and invaluable insights into U.S. public policy will enhance this group of renowned macroeconomic thinkers and former policy makers.
“The [Global Advisory] 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.”
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