NEWPORT BEACH, California (August 5, 2014) - PIMCO, a leading global investment management firm, has hired Ethan Schwartz as Executive Vice President and Portfolio Manager focusing on distressed credit. He will report to Sai Devabhaktuni, Executive Vice President and head of corporate distressed portfolio management.

“PIMCO has strong capabilities in distressed debt and opportunistic credit investing, and Ethan's hiring is another example of the firm’s continued focus on further enhancing our investment platform outside of traditional markets,” said Mr. Devabhaktuni.

Prior to joining PIMCO, Mr. Schwartz was a senior analyst at Contrarian Capital Management, an investment management firm, where he managed a broad range of complex investments in liquid and illiquid fund structures.

Mr. Schwartz, who starts this week, will be based in New York.

Professional Biography

Mr. Schwartz has 15 years of experience as an analyst and investment manager of stressed credit and distressed investments. Prior to joining PIMCO, he was a senior analyst at Contrarian Capital Management, where he helped oversee $2.7 billion of hedge fund assets and was a member of the investment committee of the illiquid distressed fund. He also worked at CRT Capital Group, Tribeca Investments and Goldman Sachs. Prior to his investment career, Mr. Schwartz was a professional journalist, writing for the Washington Post and the New York Times. He has a B.A. and law degree from Yale.