NEW YORK, July 22, 1999 (PRIMEZONE) -- Oppenheimer Capital, a unit of PIMCO Advisors Holdings L.P. (NYSE: PA), announced today that it has hired Peter Jones as managing director, head of business development.
Mr. Jones, 42, is a former managing director, head of institutional sales for INVESCO. He was employed by Chancellor LGT Asset Management until it was acquired by INVESCO last year. He will join Oppenheimer in August.
"We welcome Peter at a time of renewed interest in Oppenheimer Capital's approach to value investing," said Jim McCaughan, chief operating officer of Oppenheimer Capital. "Peter will work closely with us to develop our consultant contacts and new business prospects."
Oppenheimer Capital, a subsidiary of PIMCO Advisors, was founded in 1969. Using a team-oriented approach to value investment, Oppenheimer Capital primarily manages equity assets for institutional and retail clients in the U.S. and abroad. With assets under management of $62 billion, Oppenheimer Capital's highly respected investment management professionals seek to adhere to a disciplined, value-oriented philosophy that identifies company-specific opportunities, rather than sector driven theories. The Company emphasizes fundamentals, looking for superior businesses at attractive prices.
PIMCO Advisors is one of the largest investment management companies in the United States with more than $248 billion of assets under management. Its investment advisor subsidiaries, led by Pacific Investment Management and Oppenheimer Capital, are widely recognized for consistently posting attractive performance and high quality service to more than 1,600 institutional clients worldwide, including 42 of the nation's largest 200 corporations. In addition, PIMCO Advisors manages a family of 50 stock and bond mutual funds available to both retail and institutional investors.
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 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 Advisors L.P.'s sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. PIMCO Advisors Holdings L.P. cautions readers to carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO Advisors Holdings L.P. undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.