Neel Kashkari Gets a New Gig


In an epic Washington Post profile this weekend, former Interim Assistant Secretary for Financial Stability and current wood-chopping enthusiast Neel Kashkari revealed that he was ready to re-join society. He had gotten a job offer in "financial services," he said, and he "feels ready to start work before the end of the year." Today we found out just where this job offer was from: PIMCO, the Newport Beach–based investment company, which sent out a press release this afternoon trumpeting their new hire.

Mr. Kashkari joins PIMCO having served until May 2009 as Assistant Secretary of the Treasury, where he led the Office of Financial Stability. He was previously at Goldman Sachs. He will be based in the firm’s Newport Beach office. At PIMCO, he will help direct the firm’s expansion into new investment initiatives, including its equities business. Mr. Kashkari will be a senior member of the firm’s Executive Office and work closely with PIMCO’s portfolio management, business management and client-facing groups. Mr. Kashkari’s first day at PIMCO is December 14.

PIMCO didn't immediately respond to our query of whether, in light of this weekend's story, they had any qualms about the former Office of Financial Stability head's issues with math or that fact that he seems being slightly, er, unstable. Maybe they're just figuring that as long as he has proximity to his shed (it's just around 300 miles away), he'll be okay. Press release after the jump, Dealbreaker has the internal memo.

Update: A Pimco spokesman tells us they had "no issues with the article, but the announcement of Kashkari's hiring and its appearance was, unsurprisingly, a "total cooincidence."

Here's the press release: