Treasury Secretary Janet Yellen talks with Sara Eisen from CNBC (not shown) in the US Treasury department on January 8, 2024.
CNBC
CNBC learned that the former treasury secretary Janet Yellen will join the advisory council of the Bond Pimco giant.
According to the Leslie Picker report, joining other outstanding officials in the world of economics and finance, Yellen, who also served as the chairman of the federal reserve, will be the board several times a year.
According to Pimco, the mission of members of the Advisory Council is “contribution to insights in the company on global economic, political and strategic development and their importance for financial markets.”
Current members are Gordon Brown, former prime minister of Great Britain; Ex-White House Chief of Staff Joshua Bolten; Michèle Flournoy, a former advisor to defense policy under two US presidents and Raghuram Rajan, an economist and former governor of the India Reserve Bank.
In addition, the former chairman of the FED, Ben Bernanke, also served as a senior adviser in Pimco, and Richard Clarida, who was the vice -chairman of the Central Bank, is a managing director at the company's office in New York.
Yellen was the head of the treasury throughout all four years of Biden administration, and before him was the Chairman of the FED in 2014-2018. She was the first woman to keep the right posts. Before taking up the tax position, she served as an outstanding member of the Think Tank Brookings Institution.
Pimco based in Newport Beach, California manages about $ 2 trillion for customers, and once conducts the largest bond fund in the world. Yellen has a past with the company, reporting once that in 2019 it collected USD 180,000 speech fees.
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