John Studzinski joins Pimco – Business Insider

Britain’s
Prince Harry (L), shakes hands with John Studzinski, president of
the American Friends of The Royal Foundation, as he arrives at a
fundraiser for The Royal Foundation, in New York May 14,
2013
Reuters

• John Studzinski, one of the most prominent figures
  in global finance, is taking up a senior role at
  Pimco.
• Pimco, founded by investing legend Bill Gross, is one
  of the world’s biggest fixed-income-focused investment
  companies.
• Studzinski was previously a senior figure at
  private-equity giant Blackstone, and was crucial in the
  restructuring of insurer AIG during the financial
  crisis.

John Studzinski, one of the most prominent figures in global
finance, has been appointed as the managing director of PIMCO,
the fixed-income-focused investment giant founded by legendary
investor Bill Gross.

PIMCO announced on Wednesday that Studzinski, often known by
friends as Studs, will take up the role as MD and also become the
firm’s vice chairman.

Previously, Studzinski was one of the most senior figures at
private-equity behemoth Blackstone, where he was vice chairman
focusing on investor relations and business development. Prior to
2015, he was focused on Blackstone’s 
business restructuring and mergers advisory
businesses.

His departure from Blackstone, after 12 years with the
firm, was announced in early August. Before working at Blackstone
he spent 23 years as an investment banker at Morgan Stanley,
before joining HSBC in 2003.

He is perhaps most famous for his role in restructuring AIG
during the financial crisis — after it had received a $180
billion bailout from the US government.

“I have long had enormous respect and admiration for
PIMCO’s investment acumen, steady client focus and the vital role
it plays in the world’s economy,” Studzinski said in a statement
issue by Pimco.

Studzinski is well known for his list of illustrious
friends and clients. He has worked with PepsiCo CEO Indra Nooyi,
and famed activist investor Bill Ackman. He reportedly counts
Bank of England Governor Mark Carney as a close friend.

He is also known for his involvement with the Vatican,
acting as an adviser to the Catholic Church on matters of
transparency. For his work, he was awarded the Catholic Herald’s
‘Catholic of the Year’ award in 2017.

Pimco was founded by bond legend Bill Gross in 1971, and
now manages assets of close to $1.8 trillion, although without
Gross, who departed from the firm in 2014.