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NEWS
July 30, 2012
About 900 employees with Pacific Investment Management Co., or PIMCO, are spending this week reading to children, restoring the Back Bay and serving meals at a soup kitchen as a part of the Newport Beach-based company's fourth annual Global Week of Volunteering. The volunteers are also filling backpacks for children living in Orange County motels, teaching résumé writing and interviewing skills to U.S. veterans who served in Iraq and Afghanistan, and reorganizing garages at a battered women's housing program, according to an announcement from the company.
NEWS
By Walter Hamilton, Los Angeles Times | January 22, 2014
From an office tower overlooking the sumptuous Fashion Island mall in Newport Beach, Mohamed El-Erian sat atop a massive treasure trove of wealth as chief executive of Pimco. Soft-spoken and cerebral, El-Erian presided over a financial juggernaut that rose to become one of the biggest and most influential investment firms in the world. His ubiquitous appearances on cable news shows could sway financial markets in a split second. On Tuesday, El-Erian unexpectedly announced his resignation as CEO, according to the Los Angeles Times . Pimco offered no explanation for the departure, sparking conjecture on Wall Street about whether the current challenges at the investment giant played a role.
NEWS
October 31, 2013
The founder of Newport Beach-based Pacific Investment Co. (PIMCO) and his wife have pledged to give their fortune to charity before they die, according to published reports. Bill and Sue Gross, who have an estimated wealth of $2 billion, plan to donate the fortune to unspecified causes, Bloomberg reported Thursday. The couple live in Laguna Beach and are active in numerous Orange County charities. Bill Gross, 69, said he was inspired by the late steel tycoon Andrew Carnegie, who, according to Bloomberg, "called it a disgrace for a wealthy person to die with money.
NEWS
By Scott Reckard | March 11, 2014
A longtime trustee for Newport Beach's $1.9-trillion Pimco funds lashed out at the reported $200-million annual salary of Bill Gross, the billionaire bond guru who co-founded the giant money manager in 1971 and remains its chief investment officer. "You could hire 2,000 schoolteachers for that money," said William J. Popejoy, a former financial executive who has been a Pacific Investment Management Co. trustee for 23 years. "I don't know what Bill should be paid, but $200 million is not appropriate.
BUSINESS
By Amanda Pennington | May 17, 2007
Newport Beach-based fixed-income fund management company Pimco has announced that former Federal Reserve Chairman Alan Greenspan will serve as a consultant for the firm. Details of the multiyear consulting contract, which took a year to negotiate, were undisclosed. Greenspan, 81, will meet with Pimco director Bill Gross — often dubbed the "bond king" — four times a year during the company's economic forums and strategy reviews in Newport Beach. He will also aid in developing the company's investment strategies during the year.
NEWS
By Sarah Peters, sarah.peters@latimes.com | July 18, 2011
Let's Share Inc., a new Newport Beach-based nonprofit, aims to serve those often overlooked by larger charities, a board member said this week. The charity, which formed a year ago, plans to host its inaugural private fundraiser July 21 with a silent auction and prizes donated by local vendors, said board member Sandy Benson. Benson, her fellow employees at Newport Beach-based PIMCO and friends launched the fledgling charity last year after identifying an unfulfilled niche in local charities.
NEWS
February 19, 2004
Deepa Bharath The New Jersey attorney general's office has accused the parent corporation of Pimco bonds of defrauding investors by allowing a large client to engage in improper trades worth more than $4 billion. The suit alleges that the Newport Beach-based bond operation's parent company, Allianz Dresdner Asset Management of America, allowed hedge fund operator Canary Capital Partners LLC and other affiliates to participate in more than 200 similar transactions between October 2001 and May 2003.
NEWS
Tom Ragan, tom.ragan@latimes.com | June 21, 2010
A Newport Beach-based global investment firm has reached into its pockets and donated $25,000 to a charter high school in Santa Ana for at-risk students. Employees at Pacific Investment Management Co. (PIMCO), which employs 1,300 worldwide, have volunteered their time and skills to teach the students about the art of managing their money. The special class at the charter school, Olive Crest's NOVA Academy Early College High School, is called "Tools for Tomorrow." PIMCO's display of generosity took place on Friday, when 22 seniors, decked in caps and gowns, graduated from the high school.
NEWS
June 3, 2004
Pimco suit reaches $18-million ending The New Jersey attorney general's office dropped its action against Newport Beach-based Pimco on Tuesday while filing an $18-million settlement with Pimco's parent company, Allianz Dresdner Asset Management of America. A suit the attorney general filed in February alleged that Allianz Dresdner defrauded investors by allowing client Canary Capital Partners LLC and other affiliates to make improper trades worth more than $4 million.
NEWS
November 7, 2001
PIMCO Commercial Mortgage Securities Trust Inc., which has offices in Newport Beach, announced that Daniel J. Ivascyn will manage the fund. Ivascyn is a vice president, portfolio manager and a member of PIMCO's mortgage team. He has 10 years of management experience and joined PIMCO in 1998. . . . Tara Balfour has been appointed market president of Bank of America's Orange County region with headquarters in Newport Beach. Balfour will be responsible for the bank's operations and associates across all lines of business, which includes 80 banking centers that serve Orange County.
ARTICLES BY DATE
NEWS
By Scott Reckard | March 11, 2014
A longtime trustee for Newport Beach's $1.9-trillion Pimco funds lashed out at the reported $200-million annual salary of Bill Gross, the billionaire bond guru who co-founded the giant money manager in 1971 and remains its chief investment officer. "You could hire 2,000 schoolteachers for that money," said William J. Popejoy, a former financial executive who has been a Pacific Investment Management Co. trustee for 23 years. "I don't know what Bill should be paid, but $200 million is not appropriate.
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NEWS
By Walter Hamilton, Los Angeles Times | January 22, 2014
From an office tower overlooking the sumptuous Fashion Island mall in Newport Beach, Mohamed El-Erian sat atop a massive treasure trove of wealth as chief executive of Pimco. Soft-spoken and cerebral, El-Erian presided over a financial juggernaut that rose to become one of the biggest and most influential investment firms in the world. His ubiquitous appearances on cable news shows could sway financial markets in a split second. On Tuesday, El-Erian unexpectedly announced his resignation as CEO, according to the Los Angeles Times . Pimco offered no explanation for the departure, sparking conjecture on Wall Street about whether the current challenges at the investment giant played a role.
NEWS
October 31, 2013
The founder of Newport Beach-based Pacific Investment Co. (PIMCO) and his wife have pledged to give their fortune to charity before they die, according to published reports. Bill and Sue Gross, who have an estimated wealth of $2 billion, plan to donate the fortune to unspecified causes, Bloomberg reported Thursday. The couple live in Laguna Beach and are active in numerous Orange County charities. Bill Gross, 69, said he was inspired by the late steel tycoon Andrew Carnegie, who, according to Bloomberg, "called it a disgrace for a wealthy person to die with money.
SPORTS
By Barry Faulkner | June 8, 2013
CORONA DEL MAR - After a week's worth of postseason drama for both teams, Saturday's Newport Beach Little League Triple-A division championship game could only manage about an inning's worth of suspense. Pimco, which unexpectedly found itself battling out of the playoff loser's bracket, after dominating the American League regular season, took on Murray Home Theater, which finished fifth in the National regular-season standings, only to knock off the four teams that finished ahead of it to reach the division final at Lincoln Elementary.
NEWS
July 30, 2012
About 900 employees with Pacific Investment Management Co., or PIMCO, are spending this week reading to children, restoring the Back Bay and serving meals at a soup kitchen as a part of the Newport Beach-based company's fourth annual Global Week of Volunteering. The volunteers are also filling backpacks for children living in Orange County motels, teaching résumé writing and interviewing skills to U.S. veterans who served in Iraq and Afghanistan, and reorganizing garages at a battered women's housing program, according to an announcement from the company.
NEWS
By Lauren Williams | July 10, 2012
UC Irvine will honor the co-founder of Newport Beach-based Pacific Investment Management Co. (PIMCO) and his wife with the UCI Medal, the university announced Tuesday. Bill Gross and his wife, Sue, donated $10 million to the university to create a stem cell research center after watching a "60 Minutes" special on a UCI professor who treated spinal cord injuries in animals with human embryonic stem cells, according to the university. PIMCO, one of the nation's leading investment companies, is based in Newport Center.
NEWS
By Britney Barnes | December 3, 2011
NEWPORT BEACH - Evan Snow's face was set in concentration as he tried to add a bag of rice to each cardboard box that slid past him on a conveyor belt. His arms barely reached over the top of the boxes, but luckily for Evan, 4, he had a solid slam dunk and a cheering team. "Go! Go! Hurry!" cheered father Steve Snow, helping Evan. "Last one!" The Snows, with 6-year-old Ben in a sideways baseball cap, were some of the 450 of PIMCO's Newport Beach employees and their families who volunteered their Saturday morning to fill up 5,000 boxes with more than 9,000 pounds of holiday food for Orange County residents in need.
NEWS
September 10, 2011
Artist Jorg Dubin was in Laguna Beach, 3,000 miles away, when New York was sent into a tailspin after two planes barreled into the World Trade Center 10 years ago. Although Dubin felt connected on a human level to the atrocities and the aftermath, it didn't truly hit home for him until some of the wreckage showed up on his doorstep only a couple months ago. "The initial reaction is remembering where you were on that day," he said. At 11 a.m. Sunday, the city and Dubin will dedicate "Semper Memento," a 9/11 memorial at Monument Point in Heisler Park that utilizes two beams from the fallen twin towers.
NEWS
By Sarah Peters, sarah.peters@latimes.com | July 18, 2011
Let's Share Inc., a new Newport Beach-based nonprofit, aims to serve those often overlooked by larger charities, a board member said this week. The charity, which formed a year ago, plans to host its inaugural private fundraiser July 21 with a silent auction and prizes donated by local vendors, said board member Sandy Benson. Benson, her fellow employees at Newport Beach-based PIMCO and friends launched the fledgling charity last year after identifying an unfulfilled niche in local charities.
NEWS
July 5, 2011
The Newport Beach-based PIMCO Foundation donated $300,000 to fund programs for at-risk youths through Olive Crest's NOVA Academy, the Santa Ana charter school announced this week. The grant from the PIMCO Foundation, the charitable arm of money management firm Pacific Investment Management Co., will go to math and English skills student assessments, a college preparation program and college scholarships, according to the announcement. "PIMCO has been an unparalleled partner to NOVA, and the company's employees at all levels have provided a tremendous example of leadership and social conscience," said Donald Verleur, Olive Crest's chief executive, in a prepared statement.
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