Pimco's Toloui nominated for Treasury Department role

Toloui was proposed for the position of deputy under secretary for international finance,

Apr 11, 2014 @ 8:40 am

President Barack Obama has nominated Ramin Toloui, who co-heads Pacific Investment Management Co.'s emerging-market portfolio, for a role in the Treasury Department, according to the White House.

Mr. Toloui was proposed for the position of deputy undersecretary for international finance, the White House said in a statement Thursday. He joined Pimco, the world's biggest bond- fund manager with $1.9 trillion of assets under management, in 2006 as an emerging-market money manager, taking on his current job five years later.

The Pimco Emerging Markets Bond Fund has returned 4.2% this year, beating 55% of peers, according to data compiled by Bloomberg. Over the past year, the fund lost 3.5%, coming below 54% of similar funds.

Mr. Toloui, who will also serve as assistant secretary for international finance upon appointment, has held Treasury Department posts in the past, according to the White House statement. He served as director of the Office of the Western Hemisphere and as a senior adviser to the undersecretary for international affairs.

Pimco's former chief executive, Mohamed El-Erian, said Jan. 21 he would leave the company in mid-March, spurring a leadership shakeup at the fund firm. Mr. El-Erian plans to write a book about the rise and potential fall of central banks, a person familiar with the matter said.


What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video


Top questions surrounding future of DOL fiduciary rule

Reporter Greg Iacurci and managing editor Christina Nelson discuss the biggest uncertainties springing from the Fifth Circuit Court of Appeals' decision to vacate the regulation.

Latest news & opinion

What the next market downturn means for small RIAs

Firms that have enjoyed AUM growth because of the runup in stocks may find it hard to adjust to declining revenues if the market suffers a major correction.

DOL fiduciary rule likely to live on despite appeals court loss

Future developments will hinge on whether the Labor Department continues the fight to remake the regulation its own way.

DOL fiduciary rule: Industry reacts to Fifth Circuit ruling

Groups on both sides of the fiduciary debate had plenty to say.

Fifth Circuit Court of Appeals vacates DOL fiduciary rule

In split decision, judges say agency exceeded authority.

UBS, after dumping the broker protocol, continues to see brokers come and go

The wirehouse has seen 14 individuals or teams leave and five join for a net loss of $2.4 billion in AUM


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print