Pimco Hires Former White House Adviser Gene Sperling

Pacific Investment Management Co., the money manager seeking to bolster its team after co-founder Bill Gross left last year, hired Gene Sperling, a former economic adviser to two U.S. presidents, as a consultant on U.S. economic policy.

Sperling, the former director of the National Economic Council, a White House unit that coordinates administration policy, will participate in the firm’s quarterly cyclical and annual secular economic forums, talk to clients, and contribute to its investment committee and portfolio management group, according to a statement today from the $1.87 trillion money manager.