SOUTHLAND FOCUS : Pimco CEO May Leave After Allianz Purchase

William Cvengros, chief executive at Pimco Advisors Holdings, said he will decide by the end of the year whether he will remain with the Newport Beach money manager after Munich, Germany-based Allianz acquires a majority stake. Though most other key executives have agreed to remain with Pimco after the $3.3-billion deal closes, Cvengros, 50, is still discussing his role at the company. He declined to comment on the details of the negotiations but said he is reluctant to relocate his family to Germany. About five top Pimco managers are moving to Munich as part of the deal. “That’s not in the cards right now,” Cvengros said. Cvengros has been CEO of Pimco since 1994, when it was spun off of Newport Beach-based Pacific Life Insurance Co. When the Allianz deal closes next year, Cvengros stands to collect about $8 million by selling his Pimco stock. Meanwhile, Pimco rose 8% in the wake of Allianz’s $38.75-a-unit offer, gaining $2.69 a share to close at $37.38 on the New York Stock Exchange.