| NEW YORK
NEW YORK Jan 23 Neel Kashkari, managing
director and head of global equities at bond giant PIMCO, is
leaving the firm to consider running for public office in
California as a Republican, according to people familiar with
Kashkari, a former Goldman Sachs banker who oversaw the $700
billion Troubled Asset Relief Program while at the U.S.
Treasury, joined PIMCO in December 2009 to lead the firm's new
One such initiative was PIMCO's expansion into equities.
Pacific Investment Management Co., based in Newport Beach,
California, launched its first actively managed stock mutual
fund in 2010.
When Kashkari joined PIMCO in late 2009, the firm had $940
billion in assets, mostly in fixed income. Assets have more than
doubled since then to $1.92 trillion as of Sept. 20, 2012.
The firm, a unit of European insurer Allianz, is
run by Bill Gross, founder and co-chief investment officer, and
Mohamed El-Erian, chief executive and co-chief investment
Kashkari received bachelor's and master's degrees in
engineering from the University of Illinois at Urbana-Champaign
and a master's in business administration MBA from the Wharton
School of the University of Pennsylvania, according to PIMCO's