PIMCO claimed its chosen board members would contribute their insights to the firm on global economic, political, and strategic developments and their relevance for financial markets.
Ben Bernanke, former Federal Reserve chairman, Ng Kok Song, former chief investment officer of the Government of Singapore Investment Corporation, Anne-Marie Slaughter, CEO of New America, and Jean-Claude Trichet, former president of the European Central Bank, all form part of the advisory board.
Furthermore, PIMCO has recently added former UK prime minister Gordon Brown onto its list.
He has a link to PIMCO through Andrew Balls, the younger brother of Ed Balls, who used to be economics adviser to Brown.
In a statement, PIMCO said that the new board members would attend the firm’s annual secular forum in May, where the firm assesses the global economic outlook over the next three to five years.
“Together, the board members will contribute their economic, geopolitical, and market expertise and insights to the firm’s investment process,” PIMCO said.
A spokesman for the former prime minister said: “Brown is looking forward to discussing economic events and trends again with Bernanke, Trichet, Slaughter and others.”
The spokesman added: “Any money goes to the office of Gordon and Sarah Brown to support their charitable and public service work. Brown does not receive a penny.”
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