A well-known bond player has joined Pimco right in time for the launch of its first ETF business.

The bond fund specialists just named Anthony J. Crescenzi to its treasury desk, where he will serve as senior vice president, portfolio manager, and marketing strategist. Crescenzi will work at Pimco's Newport Beach headquarters under the wing of Steve Rodosky, executive vice president and head of Treasury, starting June 22.

Crescenzi formerly served as a chief bond market strategist with institutional trading firm Miller Tabak & Co. A spokesman at his former firm could not be reached to comment on the vacant position.

On Tuesday, Pimco also launched its first ETF, the Pimco 1-3 Year U.S. Treasury Index Fund (see MFWire, 6/02/2009). It wouldn't be surprising if Crescenzi, as part of Pimco's Treasury team, worked with the new ETF, though a Pimco's spokesperson could not immediately be reached for comment.

Crescenzi is also an author of three books, including, "Investing From the Top Down: A Macro Approach to Capital Markets."

Company Press Release

PIMCO, a leading investment management firm, has hired Anthony J. Crescenzi as a Senior Vice President, Market Strategist and Portfolio Manager. He joins PIMCO from Miller Tabak + Co where he served as Chief Bond Market Strategist. In his new role, Mr. Crescenzi will report to Steve Rodosky, Executive Vice President, Portfolio Manager and Head of PIMCO's Treasury desk.

"Tony is widely-recognized in our industry as a leading and thoughtful market strategist. His knowledge, experience, analytical skills and insights will further enhance the resources devoted to delivering to our clients around the world superior investment performance," said Mohamed A. El-Erian, PIMCO's Chief Executive Officer and co-Chief Investment Officer. "We are very excited that Tony will be on the PIMCO team and we look forward to his strong contributions," added Dr. El-Erian.

PIMCO founder and co-CIO William H. Gross commented, "I have been reading Tony's work for more than a decade and have great respect for his market insights and analysis. We are very pleased to have him joining the PIMCO team."

Mr. Crescenzi joined Miller Tabak in 1986, following positions at Lehman Brothers and Prudential Securities. Mr. Crescenzi is the author of three books, including his latest, "Investing From the Top Down: A Macro Approach to Capital Markets," which was published in September 2008. He is also the author of the revised 1,200-page investment book, "Stigum's Money Market." Crescenzi also wrote "The Strategic Bond Investor," which was published in 2002. Crescenzi holds a B.S. in Finance from CUNY, and an MBA from St. John's University.

Mr. Crescenzi will be based in PIMCO's Newport Beach office and will begin his new role on June 22.

About PIMCO

PIMCO is a global investment management firm that was founded in Southern California in 1971. The firm manages investments for an array of clients, including retirement and other assets that reach more than 8 million people in the U.S. and millions more around the world. Its clients include state, municipal and union pension and retirement plans, individual and investment saving accounts, and public sector reserve management.

PIMCO has more than 1,200 employees, which includes 800 people at its headquarters in Newport Beach, California. The firm also has offices in New York City, Toronto, London, Munich, Amsterdam, Tokyo, Hong Kong, Singapore and Sydney.

Edited by: Kimberly Chin

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