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Pimco hires Bernanke to head new advisory board

Former Fed Chairman Ben Bernanke participates in a panel discussion at the Brookings Institution earlier this year.

Former Fed Chairman Ben Bernanke participates in a panel discussion at the Brookings Institution earlier this year.

(Chip Somodevilla / Getty Images)
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Pacific Investment Management Co., or Pimco, said Monday it formed a five-member advisory board that includes the former heads of two of the world’s largest central banks.

The board will be led by Ben Bernanke, former chairman of the Federal Reserve Board, and will include Jean-Claude Trichet, former president of the European Central Bank.

The group will provide economic and political guidance to Newport Beach-based Pimco, a major investment firm that’s long been a dominant player in the global bond business.

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The advisory board’s other members are former British Prime Minister Gordon Brown; Ng Kok Song, former chief investment officer of the Government of Singapore Investment Corp., and Anne-Marie Slaughter, former director of policy planning at the U.S. State Department.

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