Text on screen: PIMCO To Acquire Muni Bond Manager Gurtin
Emmanuel Roman, CEO, PIMCO: Hello. I'm here today to share my personal excitement and the enthusiasm of my PIMCO colleagues for our future partnership with Gurtin Municipal Bond Management. As one of the world’s premier fixed income managers, PIMCO is making a strategic investment by acquiring Gurtin, a premier municipal bond management firm, to grow our muni capabilities and to deliver a broad set of muni investment solutions to our clients. I'm very pleased to have Bill Gurtin here -- Gurtin’s founder -- to celebrate the announcement.
Bill Gurtin, Founder/CEO/CIO Gurtin Municipal Bond Management: Thank you, Manny. When I look back, for a long time I thought the most -- if I was ever going to sell the business, that the right place was PIMCO. And it was sort of a dream of mine that this would someday happen, because PIMCO is in fixed income, so they share sort of our singular focus.
Text on screen: PIMCO and Gurtin Shared Culture
- Focus on being best in breed at fixed income
- Clients-first culture
- Employees highly valued
PIMCO’s focused on the client. That’s been our focus. And I've learned that PIMCO is focused on their employees. So to me, it checks all of the boxes.
Well, for Gurtin clients, the most important thing is they should know there's continuity: that I'm still going to be responsible for our high-grade munis. Michael Johnson, who has been my co-CEO, will be right by my side.
Photographs of Gurtin employees working.
The management team that’s been managing your municipal bonds, credit, portfolio management, all of our quantitative analysts, they will continue to be there. Our client service people will continue to work with your accounts. We'll continue to use our own technology. Know that that will all be there. But on top of that, there is this breadth, depth of resources, the gravitas of PIMCO, that can only make us better.
Photos of PIMCO Newport Beach office and from a PIMCO forum.
And I'm really excited to make this work, to make this a resounding success.
This combined muni platform will tap each of our firm’s complementary strengths for a stronger, more sophisticated muni investment platform, and we're committed to maintaining continuity for all of our investors, including retaining PIMCO’s existing municipal investment process team and leadership.
Photos of PIMCO employees working.
More to come, but for now, please join us in welcoming Bill and his entire team to PIMCO.