PIMCO’s McCulley to Retire at Year-End, Join Think-Tank
Paul McCulley, a member of PIMCO’s committee of investment managers, will retire at the end of the year and will take up a role in a think tank, CNBC has learned.
McCulley, who joined PIMCO in 1999, is a member of the investment committee in the Newport Beach office and a managing director, generalist portfolio manager as well as head of PIMCO’s short-term bond desk.
He will join the Global Interdependence Center, a Philadelphia-based non-profit organization that promotes free trade, as a public speaker, researcher and writer.
Last month, McCulley praised the Federal Reserve’s decision to start the second round of quantitative easing as the right approach to fulfilling the Fed’s dual mandate of ensuring price stability and economic growth.