Kashkari leaves Pimco
Neel Kashkari, who joined Pacific Investment Management Co. in December 2009 to help oversee an expansion into equities, said he’s leaving Bill Gross’ firm to consider returning to public service.
Kashkari, 39, a native of Stow and graduate of Western Reserve Academy in Hudson, previously was a senior adviser to former Treasury Secretary Henry Paulson before joining Pimco and serving as head of global equities.
His website said he’s reaching out to leaders in communities across California to hear their ideas, share his own, and explore how he can best affect positive change in the state.
Kashkari’s departure is a setback for Newport Beach, Calif.-based Pimco, which has been seeking to reduce its dependence on the fixed-income market and adding equities in anticipation that the three-decade bond rally that fueled the firm’s growth may come to an end.