Doug Hodge, the former Pimco chief executive, is to retire from the firm in December.
Hodge joined the firm in 1989 as an account manager when there were a handful of employees and the firm’s assets under management were less than $15 billion. From 2002 to 2009, he led the Asia-Pacific region from the Pimco’s Tokyo office.
Hodge rose to become Pimco’s chief operating officer in 2009 and then chief executive in 2014, succeeding Mohamed El-Erian. In September 2016, he was replaced by Emmanuel Roman.
Hodge has been serving as a managing director and senior advisor at the firm since stepping down as chief executive last year.
Bill Gross, who had co-founded Pimco in in 1971, left the firm for Janus Capital Group in September 2014. El-Erian had already left, and Hodge was CEO at the time of the departure.
Pimco chief executive Emmanuel Roman and chief investment officer Daniel Ivascyn issued a joint a statement, in which they said:
‘Doug has embodied Pimco’s values and commitment to client-service during his 28-year career at the firm, from his start as an account manager to his roles as COO and CEO during key events in the firm’s evolution, such as global expansion, navigating the financial crisis and the more recent transition to PIMCO’s next generation of leaders.’