NEWPORT BEACH, Calif. (April 14, 2008) -  PIMCO announced today that it has hired Christian Stracke as an Executive Vice President and Co-Head of Credit Research. Mr. Stracke will be based in the firm’s Newport Beach, California office where he will complement the strong expertise and specialization of PIMCO’s credit group.

“We are excited about having Christian join us. Throughout his successful career, Christian has demonstrated a strong ability to expertly combine traditional bottom-up credit analysis with a deep understanding of capital structures and macro influences,” said Mohamed A. El-Erian, PIMCO’s Co-CEO and Co-CIO.

“I’m looking forward to partnering with Christian,” said Ivor Schucking PIMCO’s Co-Head of Credit Research.  “His expertise in macro and thematic views will further complement the bottom-up expertise of our credit research team and will further strengthen PIMCO’s capabilities as we continue to deliver first class investment management services for our clients around the world.”

Christian joins PIMCO from CreditSights, where he was senior credit strategist.  Previously, he worked at Deutsche Bank and Commerzbank leading Latin American fixed income strategy. Christian has a bachelor’s degree in philosophy from the University of Chicago.

About PIMCO
PIMCO, founded in 1971, is a global asset management firm serving a full range of institutional and retail investors worldwide. Our reputation as one of the world’s top asset managers rests on our combination of a long-term investment approach, superior client servicing and cutting edge technology. With offices in nine countries in North America, Europe and Asia, we manage investments across a full spectrum of global financial markets. Our success is built on our goal of consistently providing attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a leading global insurance company.