Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Company (PIMCO), surprised the investment world when he announced his resignation today from the global asset management firm with nearly $2 trillion under management.
Mohamed El-Erian will leave PIMCO in mid-March as part of a “leadership overhaul,” Allianz SE (ADR) (OTCMKTS:AZSEY) (FRA:ALV) ( ETR: ALV), PIMCO’s parent company, said in a statement. Douglas Hodge, the managing director and chief operating officer, has been named the new CEO. El-Erian will stay...