Gordon Brown joins Pimco advisory board

Former UK Prime Minister Gordon Brown is to join four other “world-renowned experts on economic and political issues” on a new global advisory board at bond fund giant Pimco.

Pimco, owned by Allianz, said Brown and the other experts “will contribute their insights to the firm on global economic, political, and strategic developments and their relevance for financial markets.”

Ben Bernanke, former US Federal Reserve chairman, will chair the new Pimco global advisory board.

The others on the board will be Ng Kok Song, former chief investment officer of the Singapore Investment Corporation, Anne-Marie Slaughter, chief executive of New America and former director of policy planning for the U.S. State Department, and Jean-Claude Trichet, former European Central Bank president.

The new board will meet several times a year at Pimco’s office in Newport Beach, California, and other Pimco offices around the world.

“The Global Advisory Board is an unrivalled team of macroeconomic thinkers and former policymakers, whose insights into the intersection of policy and financial markets will be a valuable input to our investment process,” said Dan Ivascyn, Pimco’s group chief investment officer.

“Sharing insights on how global macroeconomic and geopolitical policy affects markets and investments is an important part of the value we bring to investors as stewards of their assets, so our clients will benefit greatly from the experience and insight the global advisory board will provide to us,” said Douglas Hodge, Pimco chief executive.

Bernank said: “I am honored to chair a board of individuals I hold in the highest esteem. We are all excited by the opportunity to provide Pimco’s strong team of investment professionals with our collective view on how global economic, political, and strategic developments will affect markets and Pimco’s clients.”