Former Treasury Secretary Janet Yellen is set to join the advisory board of leading bond investment firm Pimco, as reported by Finance Newso.
Yellen, who previously held the position of Federal Reserve chair, will contribute her expertise alongside other noted figures from the finance and economics sectors. The board meets multiple times a year, according to Finance Newso’s Leslie Picker.
The advisory board members are tasked with sharing their knowledge on global economic, political, and strategic issues, along with their implications for the financial markets, as outlined on the Pimco website.
Current board members include high-profile influencers such as Gordon Brown, former Prime Minister of the United Kingdom; Joshua Bolten, a former chief of staff at the White House; Michèle Flournoy, who served as a defense policy advisor under two presidents; and Raghuram Rajan, a prominent economist and former governor of the Reserve Bank of India.
Additionally, former Federal Reserve Chair Ben Bernanke has previously served as a senior advisor at Pimco, while Richard Clarida, who held the position of vice chair at the Fed, currently works as a managing director in the firm’s New York office.
Yellen’s tenure as Treasury Secretary spanned all four years of the Biden administration. Prior to that, she led the Federal Reserve from 2014 to 2018, becoming the first woman to hold both positions. Before her time at Treasury, she was a distinguished fellow at the Brookings Institution, a well-known think tank.
Pimco, headquartered in Newport Beach, California, manages approximately $2 trillion in assets for its clients and was once recognized for running the world’s largest bond fund. Yellen has a history with the firm; she reportedly received a $180,000 speaking fee for an engagement there in 2019.
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