NEWPORT BEACH, Calif., Jan. 20, 2005 (PRIMEZONE) -- PIMCO today announced the promotion of Changhong Zhu to the level of Managing Director.
Changhong Zhu
Mr. Zhu joined PIMCO in 1999 and is a portfolio manager on the Government, Agency, and Derivatives Desk. He is a member of the PIMCO Analytics Group and a member of the PIMCO Investment Committee. Currently, he is the firm's derivatives specialist, member of the Government, Global, and Global Plus Teams, and serves as primary Portfolio Manager for various accounts including the Global Relative Value Fund.
Prior to PIMCO, Mr. Zhu worked for Bank of America, where he built interest rate and mortgage models, and managed both a derivatives portfolio and relative value proprietary trading book. Mr. Zhu has a Bachelor's of Science in physics from the University of Science and Technology of China and a doctorate in physics from the University of Chicago.
With more than $445 billion in fixed-income assets under management in the U.S., PIMCO is one of the world's leading fixed-income fund-management companies. Founded in 1971 and based in Newport Beach, California, the company is majority owned by Munich-based Allianz Group, a leading global insurance company with nearly $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.