We talked to more than 30 people to find out why the $2.2 trillion bond giant Pimco keeps making headlines for the wrong reasons
Anthony Devlin - PA Images/Contributor/Getty Images; Samantha Lee/Insider
In February, the pension consultant NEPC, which advises several Pimco clients, gathered some of its most senior executives for a conference call with the asset manager. The NEPC executives wanted to address the growing laundry list of lawsuits and negative headlines hanging over Pimco. The letter, from current and former Pimco employees, followed a November 2020 lawsuit filed in Orange County Superior Court by two female employees who accused the firm of discrimination, harassment, and retaliation and alleged that Pimco had a"fraternity culture." In February, three more women joined the lawsuit.
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