Pimco Spokesman Porterfield to Retire After 30 Years at Firmby
Michael Reid now serves as global head of media relations
Porterfield plans to continue serving Pimco Foundation
Mark Porterfield, who served as head of media relations for Pacific Investment Management Co., is retiring at the end of this year after three decades with the bond firm.
“Why retire? It’s been 30 years behind the scenes,” Porterfield, 56, said Wednesday in an e-mail. “Just the way I like it.”
The exit comes a year after Bill Gross, a Pimco co-founder who had managed the world’s largest bond fund, was ousted and a new generation of leaders took over. Michael Reid earlier this year got the job as global head of media relations for Pimco, which manages about $1.5 trillion as a unit of Allianz SE.
Porterfield, an executive vice president at Pimco, joined the Newport Beach, California-based firm while he was earning his MBA at the University of California at Irvine.
“Pimco wasn’t as big a name then,” he said. “I applied and got a systems analyst job which then led to a compliance position and from there media, where I’ve been for the past 16 years. Three completely different careers in one company.”
Outside Pimco, Porterfield was recognized by the Laguna Beach Alliance for the Arts for supporting community art in the seaside town where he lives, including youth art exhibits and a 9/11 sculpture memorial. He also has been a cast member in Laguna Beach’s Pageant of the Masters, a stage show that recreates art masterpieces with real people posing to look like the original works.
His post-retirement plans include travel, work with nonprofits and exploring a possible Ph.D., he said in the e-mail. “I founded The Pimco Foundation and will continue to stay involved with it.”