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Pimco rules out M&A to expand equities business

Jan. 11, 2015 11:15 AM ETAllianz SE (ALIZY) StockALIZYBy: Yoel Minkoff, SA News Editor
  • Despite announcing another attempt last week to make a real push into equities, Pimco (OTCPK:AZSEY) has ruled out acquisitions to grow the business.
  • "We want to build up our equities know how with organic growth. We do not plan to acquire investment boutiques," said Andrew Bosomworth, the Germany head of Pimco's portfolio management.
  • Allianz executives have repeatedly acknowledged in the past that the expansion into stocks was proving more difficult than expected.

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