When PIMCO, one of the largest and most successful mutual funds in the U.S. speaks, the world listens. Now, with PIMCO’s great QE1 performance for 2012, people are buzzing about the company even more so.We’ve already brought you a look behind the scenes of the life of PIMCO co-founder Bill Gross, but there’s also the man many expect to be his successor: Mohamed El-Erian.
El-Erian is the current CEO of PIMCO and co-CIO, and is as ubiquitous a sight as Gross on major financial media outlets. But who’s the man behind the ‘stache?
El-Erian was born in New York, but spent his youth in Cairo, Egypt due to the diplomatic nature of his father's job. He later moved to the UK and received most of his education there.
El-Erian attended Cambridge University in the U.K for his undergraduate degree, and got his masters and Ph.D. in economics from Oxford (so that's Dr. El-Erian)
El-Erian is also probably best known for his various media appearances and his penchant for publishing his musings on the global economy and market events in large financial media outlets like Reuters, CNBC, Bloomberg and the Financial Times.
He was a managing director on the Solomon Brothers bond desk in London after serving as an economist at the International Monetary Fund for 15 years. He was the Deputy Head of the Middle East.
'On the Wednesday and Thursday after Lehman filed for Chapter 11, I asked my wife to please go to the ATM and take as much cash as she could. When she asked why, I said it was because I didn't know whether there was a chance that banks might not open.'
Oh, and El-Erian also has a daughter.
He's very humble about his position as essentially the successor to bond king Bill Gross at the helm of the biggest mutual fund in the world.
He first joined the firm in 1999.
When Reuters wrote an in-depth piece looking at PIMCO co-founder Bill Gross' role in the future of the company, El-Erian told reporters:
'I often joke that he will outlast me. I would be considerably worse off, in every single way, if Bill wasn't here.'
That's Harvard, the largest University endowment in the U.S.--when El-Erian was managing it in 2007, it was about $34.7 billion. He held the position at Harvard from 2005 to 2007. He also taught at the Harvard Business School.
El-Erian has served on several boards and committees, including the U.S. Treasury Borrowing Advisory Committee, the International centre for Research on Women, the IMF's Committee of Eminent Persons and the Peterson Institute for International Economics. He is currently a board member of the Carnegie Endowment for Peace, the NBER and Cambridge in America.
Or watching the NY Jets, and doesn't hesitate to combine football with his favourite topic of economics.
Last December, he penned a column for CNBC comparing how the insufferable and but necessary influence of the New England Patriots--whom he hates as a Jets fan--to the Eurozone crisis, which just won't go away.
Oh and just an observation we noticed, unlike a lot of finance people El-Erian isn't that into fashion.
He could probably use more ties.
Business Insider's own Simone Foxman made the astute observation that El-Erian appeared on Bloomberg TV to talk about the jobs report in two consecutive months wearing the same tie! This was in February and March of 2012.