In the dilemma between working at one of the biggest bond fund managers in the world and running a food truck, the bond firm apparently wins out.
When Jeremie Banet quit Pimco in May to enter the not-quite-as-lucrative mobile sandwich business, it created ripples through the financial world and many ruminations about leaving the rat race and pursing one's dreams.
On Wednesday, though, the Newport Beach, California-based bond giant announced Banet was coming back into the fold. Instead of dishing out delicacies, Banet will be the firm's executive vice president and portfolio manager for real return strategies, including Treasury inflation-protected securities.
"Jeremie's return adds strength to Pimco's deep expertise in real return strategies, as we help clients navigate lower policy rates in The New Neutral which can leave their investments vulnerable to the corrosive long-term effects of inflation," Pimco CIO Daniel Ivascyn said in a statement that did not mention Banet's venture into the sandwich industry.