Newport Beach, California (May 9, 2019) – PIMCO, one of the world’s premier fixed income investment managers, has named Dr. Richard Thaler as Senior Advisor on Retirement and Behavioral Economics. Dr. Thaler, who is a renowned economist and Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business, was awarded the Nobel Prize in Economic Sciences in 2017. He is also a Co-Founder and Partner at Fuller & Thaler Asset Management, which uses behavioral finance to manage portfolios of small-cap U.S. equities.
Dr. Thaler’s role at PIMCO is to enhance the firm’s commitment to better understand human behavior and how it impacts decision-making, including how individuals make decisions in saving for and spending during retirement. PIMCO aims to use these insights to help create investment solutions which better serve a wide variety of client needs, both in the accumulation of assets to prepare for retirement, and strategies for winding down those assets in a thoughtful way that accommodates the inevitable uncertainties facing retirees.
PIMCO recently announced a long-term partnership with the Center for Decision Research (CDR) at the University of Chicago Booth School of Business, to support behavioral science research from some of the field’s foremost experts. These collaborations are part of broader efforts to incorporate outside perspectives to help expand knowledge and enhance the firm’s ability to deliver the best possible outcomes for investors.
“At PIMCO, we are always striving to give our clients an edge. We know that understanding how we behave and the decisions we make are critical inputs to help make us better investors and better managers,” said Emmanuel Roman, Chief Executive Officer of PIMCO. “Dr. Thaler’s insights will help enhance our ability to make the best possible decisions for our portfolios, our clients and our employees worldwide.”