Pimco likely to pick Dan Ivascyn to succeed Gross

Deputy chief investment officer has inside track to succeed 'Bond King' as CIO
JUN 16, 2014
By  Bloomberg
Pacific Investment Management Co. is likely to name Daniel Ivascyn chief investment officer of the $1.97 trillion bond firm after Bill Gross left to join Janus Capital Group Inc. (JNS), according to a person familiar with the matter. Pimco's board was considering Ivascyn as CIO as of last night, said the person, who asked not to be identified because the news isn't yet public. Dan Tarman, a spokesman for Newport Beach, Calif.-based Pimco, didn't immediately respond to an e-mail seeking comment. Mr. Ivascyn, who runs the $38 billion Pimco Income Fund, has beaten 99% of his peers over the past three- and five-year periods, according to data compiled by Bloomberg. In January, Morningstar Inc. named Mr. Ivascyn and the co-manager of the fund, Alfred T. Murata, fixed-income managers of 2013. Pimco in January named Mr. Ivascyn one of its six deputy CIOs, reporting to Mr. Gross, in a management reorganization following the departure of former chief executive Mohamed El-Erian. An expert in mortgage-backed securities, Mr. Ivascyn burnished his reputation after the 2008 financial crisis amid a recovery in the housing market. Before joining Pimco in 1998, Mr. Ivascyn worked in the asset-backed securities group at Bear Stearns Cos., as well as at T. Rowe Price Group Inc. and Fidelity Investments. He has a bachelor's degree from Occidental College in Los Angeles and a master's of business administration degree from the University of Chicago.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.