Pimco sees hiring opportunity in Wall Street crunch

Thu, 01 May 2008 06:59:57 -0400

Pimco is making it known on Wall Street that it is hiring. It has apparently approached between five and 10 top banks, presumably via HR, and asked them to inform pink-slipped employees of openings at the big California fund manager, according to the Financial Times. Clearly, there are a lot of talented people who are out a job right now. A big mutual fund company may be the perfect spot to start over. Pimco plans to increase its workforce, currently 1,100, by more than a quarter as it expands, the article notes. It has conducted nearly 500 interviews, so far. Given the level of layoffs, it can afford to be very picky. As asset managers go, Pimco has fared relatively well, as many of its peers suffer outflows, especially from equity funds.

For more:
- here's the Financial Times article