NEWPORT BEACH, Calif., March 13, 2000 (PRIMEZONE) -- PIMCO Advisors Holdings L.P. (NYSE:PA) today announced that its fixed-income unit, Pacific Investment Management Company ("PIMCO"), has promoted seven employees to the position of Executive Vice President.
Tammie J. Arnold, CFA, joined PIMCO in 1993 and is part of the account management team. She has a Masters in Business Administration from Stanford University and a Bachelor's degree in business from the University of Southern California.
John B. Brynjolfsson, CFA, has been with PIMCO for 10 years and is a member of the portfolio management group. Along with his Masters in Management from the Sloan School of Management at MIT, Mr. Brynjolfsson also has an undergraduate degree in physics and mathematics from Columbia University.
Wendy W. Cupps, CFA, came to PIMCO in 1994. Ms. Cupps received a Bachelor's degree in mathematics from Bucknell University in 1984.
James M. Keller, who is a member of PIMCO's portfolio management group, came to PIMCO four years ago. He has a Masters in Business Administration from the University of Chicago and a Bachelors in aerospace engineering from the University of Illinois.
Raymond G. Kennedy Jr., CFA, joined PIMCO three years ago as a member of the portfolio management group. Mr. Kennedy attained his CFA designation in 1991, his Masters in Business Administration from UCLA's Anderson Graduate School of Management in 1988 and his Bachelor's degree in industrial engineering from Stanford University in 1983.
Scott A. Mather joined PIMCO's portfolio management group two years ago. He has both a Master's and Bachelor's degree in engineering from the University of Pennsylvania and an additional Bachelor's degree from the Wharton School of Business at the University of Pennsylvania.
Thomas J. Otterbein, CFA, came to PIMCO in 1994 shortly after receiving his Masters of Business Administration from the University of Chicago, Graduate School of Business. Mr. Otterbein also holds a double major Bachelor's degree in economics and mathematics from Carnegie-Mellon University. He is currently an account manager for PIMCO.
Other promotions announced by PIMCO: Brian P. Baker; Sandra K. Durn; Mark R. Kiesel; David C. Lown; Michael E. Martini, CFA; Kumar Palghat, CFA; Terry A. Randall; Seth R. Ruthen, CFA; Jeffrey M. Sargent; Chris P. Sullivan, CFA; Paul C. Westhead; John F. Wilson and Changhong Zhu were promoted to the position of Senior Vice President.
With nearly 600 employees located around the world, PIMCO has a fixed-income portfolio of approximately $181 billion in assets under management.
PIMCO Advisors is one of the largest investment management companies in the United States with over $260 billion of assets under management. Its investment advisor subsidiaries, led by Pacific Investment Management Company and Oppenheimer Capital, are widely recognized for consistently posting attractive performance and providing high quality service to more than 1,600 institutional clients worldwide, including one-third of the nation's largest 100 corporations. In addition, PIMCO Advisors manages a family of 54 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 pending acquisition by Allianz A.G., 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.