Mohamed El-Erian, Pimco - Financial Game Changer
Who: Mohamed El-Erian, Pimco CEO
How he fiercely influenced finance: The CEO and co-CIO of the world's largest bond investor was included in SmartMoney's "Power 30" list for 2010--hailing him as one of the world's most influential players in finance and Wall Street. And according to the magazine, "when El-Erian makes a phone call, the world's finance ministers answer."
El-Erian's firm manages more than $1.1 trillion in assets, with roughly eight million people in the United States alone entrusting their money to him, notes USAToday. As one of the most powerful investors in the world, El-Erian oversees hundreds of billions of dollars in investments, according to Business News Network.
More importantly, El-Erian has been credited with conceiving the "new normal" concept of the economic future. This view foresees a post-financial-crisis environment of lower investment returns, slower economic growth and persistently high unemployment, he told USAToday.
What's next: According to El-Erian, the European sovereign-debt crisis "has not yet run its course" and steps taken so far "do not constitute a sustainable solution," he tells SmartMoney.
The Pimco CEO also advises the U.S. government to start seriously investing in technology, infrastructure, education and scientific research, in order to restore "economic dynamism, buoyant job creation and global leadership," according to his Washington Post editorial.




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