By the Kent Redding Group
Austin continues to be an ideal location to open a new business or new office in the United States and Pacific Management Investment Company (PIMCO) is one of the latest companies to a new office in Austin.
PIMCO is one of the world’s premier fixed income investment managers.
With their launch in 1971 in Newport Beach, California, Pimco introduced investors to a total return approach to fixed income investing.
In the 45+ years since they started, the company has continued to bring innovation and expertise to their partnership with clients seeking the best investment solutions.
Today they4 have offices across the globe and 2,200 professionals united by a single purpose: creating opportunities for their investors in every environment.
PIMCO’s new location is expected to bring 200 new jobs to the area, many people have asked “why Austin?” and the answer is simple. Austin has become a technology hub in recent years and the company can easily tap into new recruits here compared to the recruiting opportunities they might have at their other offices around the world.
The office will open later this year and is expected to expand to about 200 employees, mostly new hires, by 2019, according to two people with knowledge of the decision. A memo was circulated to Pimco employees Monday announcing the decision, said the people, who asked not to be identified. The Wall Street Journal reported earlier Tuesday that Austin was the winning city, beating Dallas and Denver.
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