GoodBye Mr President or Successful Banker Begins New Journey


Success in the financial world is all about evolution. Only those able to change with the natural rhythms of the free market economy survive over the long term. Knowing when the time to move on has arrived is an intuition found among those who are at the top of the investment world. 

Mohamed El-Erian is one of these people. He recently resigned from his post as the chief executive officer (CEO) of Pimco, the largest bond house in the world. Mr. El-Erian decided that it was time for him to pursue other opportunities. In particular, the money magnet has decided to write a book about his life to help inspire others to reach for the heights that he has risen. Furthermore, this businessman hopes that his new writing career will provide more of an opportunity to spend time with his family at their beautiful Newport Beach, California home.The proposed book will have much to tell. Readers, especially those entering the financial industry, can learn much from Mohamed El-Erian’s experience. The banker worked for 15 years at the International Monetary Fund (IMF), helping governments achieve economic prosperity. He then went on to 17 years as an investment manager, working at Pimco and famously as the head of the ever-growing Harvard University endowment fund.

Bill Gross, Pimco’s founder, received the El-Erian resignation and began making some staff readjustments immediately. Andrew Balls and Daniel Ivascyn became deputy chief investment officers. Both men have achieved notoriety. Balls served in the United Kingdom as portfolio manager and Ivascyn led the Pimco alternative investment strategies component.

The last year has been anything but quiet for Pimco. Heavily invested in U.S. Treasuries, the Total Return Fund, which rating agencies often use to monitor the health of Pimco, witnessed losses in 2013. This temporary downturn has not affected the overall faith in the direction of the organization.

For Mr. El-Erian, the future remains bright. He has demonstrated the type of resilience needed to survive in an industry where individuals bear the responsibility of handling large amounts of money. Over his long tenure, El-Erian has produced record amounts of wealth for institutions and governments. More importantly, many private citizens owe their retirement incomes to the wise strategies undertook by this humanitarian. It is this latter fact that ultimately drives business leaders, such as El-Erian, to continue working hard each day.


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