Press Release

PIMCO Hires David Hammer as Executive Vice President and Portfolio Manager for Municipal Bond Portfolio Management


NEWPORT BEACH, California (March 6, 2015)- PIMCO, a leading global investment management firm, has hired David Hammer as an Executive Vice President and Portfolio Manager for Municipal BondPortfolio Management. Mr. Hammer, who is re-joining the firm, will be based in New York and will report to Joe Deane, Executive Vice President and Head ofPIMCO’s Municipal Bond Portfolio Management.

“David’s expertise in municipal bond trading, research and portfolio management is a tremendous enhancement to our seasoned municipal bond portfoliomanagement team,” said Marc Seidner, Managing Director, Chief Investment Officer for Non-Traditional Strategies and PIMCO’s Head of New York PortfolioManagement. “PIMCO’s deep credit-by-credit research capabilities in the municipal bond market, backed by the consistency of the firm’s investment process,are important strengths in generating outperformance for muni investors.”

Mr. Hammer has 13 years of investment experience. He first joined PIMCO in 2012 as a Senior Vice President and left in 2014 to join Morgan Stanley, wherehe was Managing Director, Head of Municipal Trading and Research, responsible for institutional and retail municipal trading, risk management and municipalcredit research.


David Hammer

Mr. Hammer will be an Executive Vice President and Municipal Bond Portfolio Manager based in New York. He first joined PIMCO in 2012 as a Senior VicePresident. In 2014, he joined Morgan Stanley as Managing Director, Head of Municipal Trading and Research, responsible for institutional and retailmunicipal trading, risk management and municipal credit research. Prior to joining PIMCO in 2012, he was an Executive Director at Morgan Stanley, where heserved as head of the high yield and distressed municipal bond trading group. Mr. Hammer ... holds a Bachelor’s Degree from Syracuse University.

Media Contacts

Michael Reid
Global Head of Corporate Communications
New York

Donna Chan
APAC Corporate Communications
Hong Kong

Agnes Crane
U.S. Corporate Communications
New York

Jennifer Spivey
U.K. and EMEA Corporate Communications

Laura Batty
U.S. Corporate Communications
Newport Beach

Jochen Haegele
EMEA Corporate Communications



PIMCO is a leading global investment management firm, with 13 offices in 12 countries throughout North America, Europe and Asia. Founded in 1971, PIMCOoffers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns whilemaintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz S.E., a leading global diversified financial servicesprovider.

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statementswithin the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factorsthat could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsoredinvestment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations,including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at whichsuch statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of suchstatements.