NEWPORT BEACH, Calif., March 21, 2018 (GLOBE NEWSWIRE) -- PIMCO, one of the world’s premier fixed income investment managers, has hired Gavin Power as Executive Vice President and Chief, International Affairs and Sustainable Development, as the firm aims to grow its Environmental, Social and Governance platform for investors seeking attractive returns in socially responsible investments.
Mr. Power will be part of PIMCO’s Executive Office, reporting to Libby Cantrill, Managing Director and Head of Public Policy. He will be based in Newport Beach. He will also work closely with Mike Amey, Managing Director and Head of PIMCO’s ESG Strategies, and Scott Mather, Managing Director and Chief Investment Officer of U.S. Core Strategies, who lead our ESG investment team. In addition, Mr. Power will work closely with PIMCO’s investment professionals on international policy development and strategy.
Prior to joining PIMCO, Mr. Power was the Deputy Executive Director of the United Nations Global Compact, the platform used to advance sustainability efforts and responsible investment in more than 160 countries. There he advised U.N. Secretaries-General and oversaw sustainability initiatives with the private sector in developed and emerging markets, as well as overseeing government affairs for the U.N. Global Compact. He was also a co-founder of the Principles for Responsible Investment, directly supporting the Secretary-General’s development and launch of PRI in 2006. Mr. Power served on PRI's primary governance body from 2006 to 2018.
“Gavin is an excellent and timely addition to PIMCO as the intersection of financial markets and public policy continue to influence the global economy and the cost of financing,” says Ms. Cantrill. “In particular, his insights and experience in sustainable development will help fortify our ESG business and shape the innovation needed to help finance private and public sector efforts to meet the U.N.’s sustainability development goals.”
Last year, PIMCO launched its global ESG platform to meet investor demand and to anticipate a changing investment landscape where both the public and private sector have pledged to actively pursue the U.N.’s goals.
“We believe changing demographics, climate and energy sources, among myriad other factors, will encourage investors and issuers to expand and deepen the market for ESG-related investments,” says Mr. Amey. “Gavin’s expertise will be invaluable to our efforts in providing our clients with the option to participate in ESG investments without sacrificing returns as we aim to help them reach their long-term investment goals.”
Gavin Power is Executive Vice President and Chief, International Affairs and Sustainable Development. Prior to joining PIMCO, Mr. Power was the Deputy Executive Director of the United Nations Global Compact, the platform used to advance sustainability and responsible investment in more than 160 countries. There he advised U.N. Secretaries-General and oversaw sustainability initiatives with the private sector in more than 160 countries including developed and emerging markets. He was also a co-founder of the Principles for Responsible Investment and directly supported the U.N. Secretary-General’s development and launch of PRI in 2006. In addition to his U.N. work, Mr. Powers held senior positions at Ketchum and Levi Strauss and worked as a financial journalist for the San Francisco Chronicle. He holds a degree in Economics from the University of California, Santa Barbara.
PIMCO is one of the world’s premier fixed income investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today we have offices across the globe and 2,150+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.
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.
PIMCO – Media Relations
Source: PIMCO Account Management