PIMCO Opens New Office in Taiwan
Hong Kong, (July 31, 2018) – PIMCO, one of the world’s premier fixed income investment managers, announces that it has received the business license from Taiwan’s regulators for its new onshore entity, PIMCO Taiwan Limited, to commence business as a securities and investment consultant enterprise (“SICE”). PIMCO Taiwan intends to act as the master agent for the firm’s 13 PIMCO Funds: Global Investors Series plc (“PIMCO GIS Funds”), which are registered for general sale to local Taiwan investors; and directly manage its local distribution partnerships, pending further regulatory approval regarding the master agent transition.
PIMCO is working closely with Allianz Global Investors Taiwan (“AllianzGI”), its current master agent, on the transfer of responsibilities. During the transition, PIMCO will continue to manage the PIMCO GIS Funds; and AllianzGI will remain as the master agent until the effective date of appointment of PIMCO Taiwan as the new master agent sometime in 2018, subject to requisite regulatory approval.
In addition to the new Taipei office, PIMCO has four other offices in Asia including Hong Kong, Singapore, Sydney and Tokyo.
Michael Thompson, PIMCO’s Head of Asia and Chairman of PIMCO Taiwan Limited said, “We are very excited to have achieved this important milestone. Building our onshore presence in Taiwan directly aligns with PIMCO’s global distribution strategy and speaks to the firm’s commitment to growing our Asia presence; recognizing the significant opportunities this region represents for both the firm and our investors.”
“The PIMCO SICE provides us with a meaningful framework to deepen our engagement with local distribution partners, expand our reach to clients and continue to deliver global investment solutions and industry-leading client experience for investors in Taiwan,” added Mr. Thompson.
PIMCO has appointed Mitch Wang as General Manager of the new PIMCO Taiwan. Mr. Wang will be leading a team focused on driving growth in the firm’s offshore fund business, expanding its distribution partnerships, and strengthening relationships with institutional clients and prospects in Taiwan. He will report to Haining Yin, Head of Greater China based in Hong Kong.
“We are excited to have Mitch joining PIMCO. With his over 20 years of asset management experience and extensive distribution relationships in Taiwan, Mitch is an excellent and timely addition to the firm as we grow our presence in the market,” Ms. Yin said.
Professional Biography – Mitch Wang
Mitch Wang is a senior vice president and General Manager of PIMCO Taiwan. He is leading a team focused on driving growth in PIMCO’s offshore fund business, expanding its distribution partnerships, and among institutional clients and prospects in Taiwan. Prior to joining PIMCO, Mr. Wang was most recently Head of Intermediary Business, Taiwan at FIL Securities Investment Trust Co. (Fidelity International’s asset management operation in Taiwan), having joined in 2014. Before that, he also worked with Pioneer Global Investments (Taiwan) as General Manager, and ABN AMRO Securities Investment Consultant Co., Taiwan as Chairman and President. Mr. Wang has 20 years of experience in asset management in Taiwan. He holds an undergraduate degree in economics from Fu Jen Catholic University in Taiwan and a master degree in Finance from California State University, Long Beach in the U.S.
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About PIMCO
PIMCO is one of the world’s premier fixed income investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today we have offices across the globe and 2,150+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.
Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
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