Newport Beach, California (September 16, 2020) – PIMCO, one of the world’s premier fixed income investment managers, announces that Mark Carney, economist and former Governor of both the Bank of England and the Bank of Canada, is joining PIMCO’s Global Advisory Board. The Board provides PIMCO investment professionals with insights on global economic, political, and strategic developments and their relevance for financial markets.
Established over four years ago, PIMCO’s Global Advisory Board is an important part of the firm’s investment process and is designed to provide a deeper understanding of the policies and institutions that influence financial markets. Former Federal Reserve Chairman Ben Bernanke is the Chair of the Board, which is comprised of seven members including Mr. Carney.
Mr. Carney is currently UN Special Envoy on Climate Action and Finance. From 2013 to March 2020, he served as the Governor of the Bank of England and Chair of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Committee. In addition, he served as Chair of the Financial Stability Board (FSB) from 2011 to 2018, and First Vice-Chair of the European Systemic Risk Board. He was Governor of the Bank of Canada from 2008 to 2013.
“Mark’s extensive experience as an economist and central banker, combined with his focus on transforming climate finance, makes him an invaluable addition to this renowned group of thinkers,” said Emmanuel Roman, PIMCO’s Chief Executive Officer.
“The Board continues to be an important part of our investment process, providing unique global insight, and challenging our biases and assumptions, as we pursue the best investment outcomes for our clients around the world,” said Dan Ivascyn, PIMCO’s Group Chief Investment Officer.
Alongside Mr. Carney and Dr. Bernanke, other members of the PIMCO Global Advisory Board are Gordon Brown, former U.K. Prime Minister and former Chancellor of the Exchequer, Ng Kok Song, former Chief Investment Officer of the Government of Singapore Investment Corporation (GIC), Anne-Marie Slaughter, former Director of Policy Planning for the U.S. State Department, Joshua Bolten, former White House Chief of Staff, and Jean-Claude Trichet, former President of the European Central Bank.
Mark Carney was appointed as UN Special Envoy on Climate Action and Finance in December 2019. From 2013 to March 2020, he served as the Governor of the Bank of England and Chair of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Committee. He has also served as Chair of the Financial Stability Board (FSB) from 2011 to 2018, Chair of the Economic Cooperation Council of Governors of the BIS from 2017-2020, First Vice-Chair of the European Systemic Risk Board, a member of the Group of Thirty and the Foundation Board of the World Economic Forum. Mr. Carney was born in Fort Smith, Northwest Territories, Canada in 1965. He received a bachelor's degree in Economics from Harvard University and a master's degree and doctorate in Economics from Oxford University. After a 13-year career with Goldman Sachs in London, Tokyo, New York and Toronto, Mr. Carney was Deputy Governor of the Bank of Canada from 2003 to 2004. He was Senior Associate Deputy Minister of Finance until 2008 when he was appointed Governor of the Bank of Canada, which he served as until 2013.