NEWPORT BEACH, Calif., April 17, 2001 (PRIMEZONE) -- PIMCO, one of the nation's leading fixed-income fund-management companies, is pleased to announce the hiring of Charles Wyman as Executive Vice President and Head of Credit Research.
Wyman, most recently a Principal at Morgan Stanley in New York, will join PIMCO in early May. Wyman, who has been employed since 1996 with Morgan Stanley, previously held positions with Lehman Brothers and also with the consulting firm, Booz, Allen & Hamilton.
"The addition of talented, new professionals with demonstrated expertise underscores our commitment to invest substantial resources in our key specialty areas," said Chris Dialynas, PIMCO Managing Director. "This commitment is another example of PIMCO's dedication to excellence and specifically demonstrates PIMCO's commitment to the credit area."
Wyman, who will report to Chris Dialynas, is replacing PIMCO's Ray Kennedy as Head of Credit. Kennedy, who used to oversee both credit and structured products, will now co-manage PIMCO's public high yield funds along with industry veteran and PIMCO Managing Director, Ben Trosky. In addition to this role, Kennedy will continue to manage PIMCO's high yield structured products. In August of last year, PIMCO announced the addition of Andrea Feingold to their high yield team as a senior portfolio manager.
Wyman graduated magna cum laude from Harvard, and he received a Masters in Business Administration from the Harvard Business School with distinction.
Founded in 1971 and based in Newport Beach, California, PIMCO has more than $220 billion in fixed-income assets under management. The company is majority owned by Munich-based Allianz Group, a leading global insurance company with over $700 billion 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.