ESG

PIMCO hires chief of international affairs and sustainable development

Gavin Power was named executive vice president and chief of international affairs and sustainable development at Pacific Investment Management Co.

The position is new, said a PIMCO spokeswoman. Mr. Power will report to Libby Cantrill, managing director and head of public policy. He will also work with Michael Amey, managing director and head of PIMCO's environmental, social and governance strategies, and Scott Mather, managing director and chief investment officer of U.S. core strategies.

Mr. Power was deputy executive director of the United Nations Global Compact, a voluntary initiative based on commitments from corporate CEOs to implement universal sustainability principles, according to the UNGC website. He also helped found the Principles for Responsible Investment, an international network of investors that follows ESG-related principles.

PIMCO launched its global ESG program in 2017.