The Mega-Money Manager Killing His Automated Competition
Pimco Chief Investment Officerfficer Dan Ivascyn is leading the firm with a combination of bold risk-taking and coolheaded caution.
This article is for subscribers only.
“It’s not something that comes naturally to me,” says Dan Ivascyn of his role as the public face of Pimco, the country’s second-biggest bond manager. “I’m never going to get fully comfortable, because I’m more inwardly focused.”
Ivascyn took over Pacific Investment Management Co. after Bill Gross, its mercurial co-founder, was ousted in a generational power struggle. Gross’s exit led investors to pull more than $350 billion from Pimco’s funds, leaving the company in crisis. In the three years since, Ivascyn has managed not only to steady the firm but also to resume delivering returns better than those of its biggest rivals.