Former U.S. Treasury Secretary Janet Yellen is set to join the advisory board of Pimco, the prominent bond management firm. Yellen, who also served as Federal Reserve Chair, will collaborate with other prominent figures in economics and finance on this board, which meets several times a year.
The advisory board’s mission, as outlined on Pimco’s website, is to provide insights on global economic, political, and strategic developments, shaping the firm’s approach to financial markets.
Current members of the advisory board include Gordon Brown, the former UK Prime Minister, Joshua Bolten, former White House Chief of Staff, Michèle Flournoy, a former defense policy advisor, and economist Raghuram Rajan, the former governor of the Reserve Bank of India.
Pimco has a history of attracting distinguished financial leaders. Former Fed Chair Ben Bernanke has also served as a senior advisor at the firm, while Richard Clarida, former Vice Chair of the Federal Reserve, works as a managing director in Pimco’s New York office.
Yellen’s career is marked by groundbreaking achievements. She made history as the first woman to serve both as Treasury Secretary and Fed Chair. Prior to her tenure at the Treasury, she was a distinguished fellow at the Brookings Institution.
Pimco, headquartered in Newport Beach, California, manages around $2 trillion for clients and once held the title of managing the largest bond fund globally. Yellen has longstanding ties with the firm, having earned a $180,000 speaking fee from them in 2019.
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