LONDON – Former PIMCO CEO Mohamed A. El-Erian will step down from the board of Barclays (NYSE: BCS), the British bank said on Friday, following his appointment as chair of sportswear brand Under Armour Inc. (NYSE: UA).
A frequent media commentator on markets, finance, and interest rates, El-Erian gained fame in the investing community for a successful stint at investment management firm PIMCO in the early 2000s managing emerging market bond investments.
El-Erian helped the fund steer clear of Argentina’s sovereign debt default in 2001.
After a stint at Harvard, he returned to PIMCO in 2007 as CEO and co-chief investment officer alongside Bill Gross.
In 2012 U.S. President Barack Obama appointed him as chair of the President’s Global Development Council.
Barclays (NYSE: BCS) also said it has appointed Brian Shea, former CEO of investment services for BNY Mellon from 2014 until his retirement in 2017, as a non-executive director.
(Source: ReutersReuters)
