Pimco Brings Back Chief Economist Paul A. McCulley

Pimco has now brought back a prominent former executive, Paul A. McCulley, to help the firm reassure skeptical investors after the unexpected departure of Mohamed El-Erian in March. McCulley, a longtime financial economist who retired in 2010, has been brought back as a managing director and the firm’s chief economist, a newly created role. He will sit on the investment committee and report to the company’s famous founder and chief investment officer, William H. Gross.