Former PIMCO executive Neel Kashkari will be the Republican candidate for California governor in the November elections, facing incumbent Democrat Edmund G. “Jerry” Brown Jr., who is seeking a second term.
Mr. Brown received 55% of the vote in primary elections on Tuesday while Mr. Kashkari received 19% of the vote, according to statistics from the California secretary of state's office. The primary system places the top two candidates, regardless of party, on the ballot for the Nov. 4 election.
Mr. Kashkari led bond manager Pacific Investment Management Co.'s fledgling efforts to build an equity presence as head of global equities leaving in January 2013 after four years on the job. Prior to joining PIMCO, he had been an adviser to former Treasury Secretary Henry Paulson and oversaw the $700 billion Troubled Asset Relief Program. The $700 billion program was created to help financial institutions emerge from the financial crisis following the collapse of the subprime mortgage market.