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Press Release

PIMCO Names Sung-Hee Suh as Global General Counsel

David Flattum, Managing Director and Global General Counsel, will retire at the end of 2023 after a 17-year career at PIMCO

Newport Beach, California (November 30, 2023) – PIMCO, a global leader in active fixed income with expertise across public and private markets, has named Sung-Hee Suh as Global General Counsel. Ms. Suh, a Managing Director who currently serves as PIMCO’s General Counsel for Global Regulatory and Litigation, will take on the role Jan. 1, 2024 following the retirement of David Flattum, Managing Director, who has held the role for the past 17 years. Mr. Flattum will remain with PIMCO as a consultant throughout 2024.

“Sung-Hee is a remarkable attorney and leader with a rich and varied career in many areas of law, including both the prosecution and defense of white-collar criminal cases, commercial litigation and regulatory oversight and enforcement,” said Emmanuel Roman, PIMCO’s Chief Executive Officer. “She is a strong voice and leader who has managed complex legal and regulatory issues and is also a collaborative colleague, mentor and advocate for PIMCO employees,” he said.

At PIMCO, Ms. Suh has also been an executive sponsor of PIMCO LEAP, the firm’s employee resource group focused on developing and giving voice to the firm’s Asian and Pacific Islander employees, and will be a member of PIMCO’s 2024 Managing Director Inclusion & Diversity Advisory Council. She has more than 33 years of legal and compliance experience and joined PIMCO in 2018 from the global law firm White and Case LLP, where she was head of that firm’s New York white-collar litigation practice. Prior to that, she was Deputy Assistant Attorney General, Criminal Division, in the U.S. Department of Justice, where she managed 180-plus prosecutors and oversaw securities fraud, Foreign Corrupt Practices Act and other federal criminal cases. 

“I want to thank David for his invaluable contributions to PIMCO and our clients during his 17 years at the firm,” said Mr. Roman. “David has been a highly effective and thoughtful legal voice as PIMCO has grown, and has played a critical role during challenging periods like the great financial crisis.”

Mr. Flattum also served in other leadership roles at PIMCO including as Chair of the Audit Committee and the Global Risk Committee. He oversaw the expansion of PIMCO’s legal and compliance teams over many years as the asset management industry grew more complex in terms of scale and regulation. David joined PIMCO as Global General Counsel in 2006, after prior roles as General Counsel and Chief Operating Officer of PIMCO’s parent Allianz Asset Management of America and before that as a partner at the global law firm of Latham & Watkins, specializing in M&A where he first represented PIMCO in its 1994 spinoff from Pacific Life. 

Biographies

Sung-Hee Suh is a Managing Director in the Newport Beach office and PIMCO’s General Counsel for Global Regulatory and Litigation. She will become PIMCO’s Global General Counsel on Jan. 1, 2024. Prior to joining PIMCO in 2018, she was a partner at the law firm of White & Case, where she was head of its New York white collar and investigations practice. Prior to that, she served as Deputy Assistant Attorney General in the Criminal Division of the U.S. Department of Justice. Previous roles include litigation partner at the law firm of Schulte Roth & Zabel and Deputy Chief of the Organized Crime and Racketeering Section in the United States Attorney’s Office for the Eastern District of New York. She has 33 years of legal and compliance experience and holds a J.D. from Harvard Law School and an undergraduate degree from Harvard College.

David Flattum is a Managing Director and Global General Counsel of PIMCO, based in Newport Beach, California. He will be retiring from PIMCO at the end of 2023 although will remain a consultant to the firm throughout 2024. Prior to joining PIMCO in 2006, he served as managing director, U.S. general counsel and chief operating officer of Allianz Asset Management of America. Prior to that, Mr. Flattum was a partner at the law firm of Latham & Watkins, where he specialized in mergers and acquisitions. He holds a J.D. from Yale Law School and undergraduate degrees in philosophy and electrical engineering from the University of Southern California.

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Disclosures

About PIMCO

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, drawing upon our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

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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