Pacific Investment Management Co. created a new global advisory board to provide economic, geopolitical and market expertise, a spokeswoman said.
The board is made up of economic and political experts, and is chaired by Ben Bernanke, former chairman of the Federal Reserve. PIMCO hired Mr. Bernanke in April as a senior adviser.
The members of the board will contribute their insights on global economic, political and strategic developments, and how they relate to financial markets. It will meet several times a year.
The five advisory board members will also attend PIMCO's annual secular forum, where investment professionals discuss their three- to five-year outlooks.
Gordon Brown, former U.K. prime minister and chancellor of the exchequer; Ng Kok Song, former chief investment officer of the Singapore sovereign wealth fund GIC, which has estimated assets of more than $300 billion; Anne-Marie Slaughter, president and CEO of think tank New America, Bert G. Kerstetter '66 University professor emerita of politics and international affairs at Princeton University and former director of policy planning for the U.S. State Department; and Jean-Claude Trichet, former president of the European Central Bank and current chairman of the European group of the Trilateral Commission.
“The global advisory board is an unrivaled team of macroeconomic thinkers and former policymakers, whose insights into the intersection of policy and financial markets will be a valuable input to our investment process,” said Daniel J. Ivascyn, PIMCO's group chief investment officer, in a news release.