Pimco hires Greenspan as consultant: report

SAN FRANCISCO Wed May 16, 2007 7:30am EDT

In this file phoyo former Chairman of the Federal Reserve Alan Greenspan speaks the Conference on U.S. Capital Market Competitiveness in Washington March 13, 2007. REUTERS/Jim Young

In this file phoyo former Chairman of the Federal Reserve Alan Greenspan speaks the Conference on U.S. Capital Market Competitiveness in Washington March 13, 2007.

Credit: Reuters/Jim Young

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SAN FRANCISCO (Reuters) - Allianz AG's (ALVG.DE) Pacific Investment Management Co. has signed up former U.S. Federal Reserve chairman Alan Greenspan as a consultant on economic issues, the Wall Street Journal said on Tuesday.

The deal signed this week calls for Greenspan to hold quarterly strategy sessions with Pimco executives, and to correspond with them up to twice a week through conference calls and e-mail, the newspaper said on its Web site.

The paper also quoted Greenspan as saying he will also make private comments to Pimco about interest-rate policy, something he has not done since leaving the Fed in January 2006.

It did not say how much Pimco, the world's biggest bond fund manager, will pay Greenspan for his services, and a Pimco spokesman could not be immediately reached for comment.

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