Reuters Britain's Prince Harry (L), shakes hands with John Studzinski, president of the American Friends of The Royal Foundation, as he arrives at a fundraiser for The Royal Foundation, in New York May 14, 2013
- John Studzinski, one of the most prominent figures in global finance, is taking up a senior role at Pimco.
- Pimco, founded by investing legend Bill Gross, is one of the world's biggest fixed-income-focused investment companies.
- Studzinski was previously a senior figure at private-equity giant Blackstone, and was crucial in the restructuring of insurer AIG during the financial crisis.
John Studzinski, one of the most prominent figures in global finance, has been appointed as the managing director of PIMCO, the fixed-income-focused investment giant founded by legendary investor Bill Gross.
PIMCO announced on Wednesday that Studzinski, often known by friends as Studs, will take up the role as MD and also become the firm's vice chairman.
Previously, Studzinski was one of the most senior figures at private-equity behemoth Blackstone, where he was vice chairman focusing on investor relations and business development. Prior to 2015, he was focused on Blackstone's business restructuring and mergers advisory businesses.
His departure from Blackstone, after 12 years with the firm, was announced in early August. Before working at Blackstone he spent 23 years as an investment banker at Morgan Stanley, before joining HSBC in 2003.
He is perhaps most famous for his role in restructuring AIG during the financial crisis - after it had received a $180 billion bailout from the US government.
"I have long had enormous respect and admiration for PIMCO's investment acumen, steady client focus and the vital role it plays in the world's economy," Studzinski said in a statement issue by Pimco.
Studzinski is well known for his list of illustrious friends and clients. He has worked with PepsiCo CEO Indra Nooyi, and famed activist investor Bill Ackman. He reportedly counts Bank of England Governor Mark Carney as a close friend.
He is also known for his involvement with the Vatican, acting as an adviser to the Catholic Church on matters of transparency. For his work, he was awarded the Catholic Herald's 'Catholic of the Year' award in 2017.
Pimco was founded by bond legend Bill Gross in 1971, and now manages assets of close to $1.8 trillion, although without Gross, who departed from the firm in 2014.