At least once a quarter, nothing comes between PIMCO employees and their Calvins.
Pacific Investment Management Co. LLC recently launched a charity drive called Jeans for Charity which allows staffers to pay to wear jeans on a designated Friday once a quarter, said spokesman Mark Porterfield. The cost of comfort: $20 for officers and $10 for all other employees at the Newport Beach, Calif., bond shop.
The program, which began in April, raised $5,000 for various charities in its first go-round, said Mr. Porterfield. Some 210 staffers participated in Jeans for Charity, the brainchild of a PIMCO employee, and some gave more than the required amount, he said. “Because of increased awareness about — and the giving aspect of — the program, it is anticipated that our local donations could nearly double during our summer session,” he said.
Employees make their checks payable to the charity of their choice, and the checks are processed through the PIMCO Foundation, a charitable organization started by the firm that offers grants to local non-profits, charities, educational institutions and arts organizations. Mr. Porterfield is also executive director of the foundation.
