PIMCO Snags Former Assistant U.S. Treasury Sec.

Fixed-income fund manager PIMCO has named former Assistant U.S. Treasury Secretary Richard Clarida as executive vice president and global strategic advisor. Clarida, who joins PIMCO from hedge fund firm Clinton Group Investment Advisors, served in the Bush administration from 2001 to 2003. He has also served as chair of the economics department at Columbia University, where he will continue to teach.