Pimco’s former chief executive officer, Doug Hodge, is to retire after 28 years with the company.
Hodge ceded the CEO position to Manny Roman in June 2016, having held the position for two years. He stayed on in an advisory capacity. He will formally step down on December 5.
Newport Beach-based Hodge also serves on the global executive committee for Allianz Asset Management, the governing body of asset management for the Allianz Group.
Earlier in his career, Hodge led the Asia-Pacific region from the firm's Tokyo office from 2002 to 2009 and also served as chief operating officer. He first joined Pimco in 1989 as a senior account manager.
During his two years in the hot seat, Hodge oversaw major upheaval within the company’s senior ranks, which included both Mohamed El-Erian and Bill Gross exiting, as well as the new multi-CIO structure being introduced.