Major bond manager hires former Fed vice chair

Richard Clarida is rejoining Pimco as global economic advisor after three years serving at the Federal Reserve.

RIchard Clarida, Global Economic Advisor at Pimco | Photo: Ann Saphir/Reuters/Ritzau Scanpix

Pimco, which is one of the world’s leading bond managers, has rehired Richard Clarida, the former deputy chairman of the Federal Reserve.

Clarida will have the title of Global Economic Advisor at Pimco, an equivalent role to the global strategy advisor position he held at the firm from 2006 to 2018.

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