PIMCO To Open Office In Brazil

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PIMCO has said that it will open an office in Rio de Janeiro, Brazil in September 2012.

The new office will be PIMCO’s first location in Latin America and will be led by Alec Kersman, a Senior Vice President and head of PIMCO’s Latin America and Caribbean business.

'The opening of this office in Brazil is an important and exciting part of PIMCO’s ongoing globalization and our evolution as the complete provider of global investment solutions for a growing number of clients around the world,', said Mohamed A. El-Erian, CEO and Co-CIO of PIMCO.

'Establishing an office in the region is a key step for PIMCO's Latin America and Caribbean efforts that will further enable us to get closer to our clients, and increase the range of investment opportunities in which our firm can participate',  said Kersman. 'Brazil is an outstanding location and we look forward to becoming part of, and contributing to the community', he added.

PIMCO will operate in Brazil as PIMCO Latin America Administradora de Carteiras Ltda., and will be regulated by the Comissao Nacional de Valores (CVM).

Biographical Information about Alec Kersman

Kersman is head of PIMCO’s Latin America and Caribbean business. Prior to joining PIMCO in 2005, he held positions in HSBC’s pension division and BBVA’s pension fund in Argentina. He holds a Juris Doctor degree from the University of Buenos Aires, Argentina and an MBA from Harvard Business School.

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