NEW YORK — Pimco has hired former Federal Reserve Chairman Ben Bernanke as a senior adviser, the bond fund manager said Wednesday.
It’s the latest private venture for Bernanke, who since his departure from the nation’s central bank last year has been on the speaking circuit and recently was hired by a major hedge fund as an adviser, as well.
Bernanke will provide economic advice to Pimco’s fund managers and will occasionally interact with the firm’s clients, the Newport Beach, Calif., company said.
It is routine for former Fed officials to take their economic skills — and Rolodex of contacts — to Wall Street after their tenure ends at the bank. Pimco previously hired Alan Greenspan, the Fed chairman.
Bernanke spent most of his two terms dealing with the 2008 financial crisis and its aftermath.
