PIMCO Adds Management Muscle To Global Expansion

Experienced Fixed-Income Professional Marlene Puffer to Join PIMCO Canada


NEWPORT BEACH, Calif., Jan. 13, 2005 (PRIMEZONE) -- PIMCO, one of the world's leading fixed-income management companies, is pleased to announce the hiring of Marlene Puffer to PIMCO Canada as a senior vice president. Puffer will be involved with business development, client servicing, and investment strategy.

Puffer, most recently a vice president, portfolio manager, and co-head of fixed-income with Legg Mason Canada, will joined PIMCO in January.

Puffer has 15 years of investment experience and holds a Ph.D. and M.Sc. in finance from the University of Rochester, and master's and bachelor's degrees in economics from the University of Toronto. Puffer earned her CFA designation in 1998.

"The addition of talented professionals with demonstrated expertise underscores our commitment to invest substantial resources in our new Canadian effort," said Margaret Isberg, PIMCO managing director, and president of PIMCO Canada. "Marlene's impressive academic background and fixed-income investment experience add significant depth to our new operation." Puffer will report to Isberg.

Toronto-based PIMCO Canada was founded in 2004 and offers a full spectrum of actively managed Canadian fixed-income strategies. "We are excited by the opportunities for PIMCO in Canada," said PIMCO CEO, William Thompson. "Talented new hires, such as Marlene, strengthen our existing global platform."

Founded in 1971 and based in Newport Beach, California, PIMCO has more than $415 billion in fixed-income assets under management, with operations in the UK, Europe, Australia, and Asia. The company is majority owned by Munich-based Allianz Group, a leading global insurance company with over $1 trillion in assets and represented in 70 countries around the globe.

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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