Press Release

PIMCO to Open Third U.S. Office in Austin, Texas

24/04/2018

New office will support growth of many areas of PIMCO's business including Technology, Marketing, U.S. Global Wealth Management and Institutional Client Management

Newport Beach, California (April 24, 2018) – PIMCO, one of the world’s premier fixed income investment managers, announces that it will open a new U.S. office in Austin, Texas. The new office will be led by Patrick Feigley, Executive Vice President and Head of U.S. Global Wealth Management Sales, and is likely to open in the summer of 2018. PIMCO currently has two offices in the U.S. - its headquarters in Newport Beach, California and an office in New York City.

“Austin will play an important part in PIMCO’s continued growth and we are excited to become part of this vibrant, innovative community,” said Emmanuel Roman, PIMCO’s Chief Executive Officer and Managing Director.

PIMCO will initially build up the office’s staffing level to around 200 employees by the end of 2019, with the majority of these being new hires. The office will have a significant technology presence but also other functions including U.S. Global Wealth Management, Institutional Client Management, Marketing and other business groups which may benefit from local talent pools.

“This office in Austin will enable us to expand our reach to clients, access new pools of talent and skills and build out our technological excellence and innovation across the firm globally,” said Mr. Feigley.

“Having PIMCO, one of the world’s premier investment management companies, choose Austin as a key part of their job growth and expansion strategy is a major win for our community,” said Gary Farmer, Chairman of Opportunity Austin, the prosperity initiative for the region. “It underscores the great qualities we have built through the years that make our region attractive to companies offering diverse employment options."

Added Mr. Roman: “This office is one of many investments PIMCO is making to take advantage of opportunities in the asset management industry globally, including expansion in Asia-Pacific and additional resources in many areas including technology, talent management, compliance, ESG, private strategies, quantitative teams and traditional portfolio management.”