Finance

Pimco adds former White House defence expert to advisory board

Pimco, the US bond giant, has appointed a former White House staffer to its influential advisory board — the second high profile name to be added in the past six months.

Michèle Flournoy, an expert in US defence policy and national security issues, will join the line-up of former central bankers and economists who advise the California-based asset manager.

Flournoy served as undersecretary of defence for policy in the Barack Obama administration, and as deputy assistant secretary of defence for strategy under president Bill Clinton.

During her time in the Obama administration, Flournoy was the principal adviser to the secretary of defence in the formulation of national security and defence policy, oversight of military plans and operations, and in national security council deliberations.

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Flournoy is the latest influential appointment Pimco has made to its advisory board, which was established more than four years ago and is chaired by former Federal Reserve chair Ben Bernanke.

Pimco announced in September that former Bank of England governor Mark Carney would join the panel, which provides the asset management with insights on global economic, political and strategic developments and their relevance to financial markets.

“Michèle has deep experience in US defence policy and national security issues and is a remarkable addition to our global advisory board,” said Emmanuel Roman, Pimco’s chief executive.

“Her insights and analysis of the role geopolitical developments will play in policies and actions by major governments will help us assess their potential impact on capital markets for our clients.”

Other heavyweights on Pimco’s advisory board include Ng Kok Song, former chief investment officer of the Government of Singapore Investment Corporation; Anne-Marie Slaughter, former director of policy planning for the US State Department; and Joshua Bolten, former White House chief of staff.

To contact the author of this story with feedback or news, email David Ricketts

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