Manny Roman May Think Mutual Funds Are Sad And Full Of Stupid People But Sure He’ll Run One

Pimco doesn't care, as long as he isn't Bill Gross.
Photo: Getty Images

Photo: Getty Images

Yeah, he said those things, but that was three whole years ago, when he was a fresh-faced newly-minted CEO of a non-mutual fund company. Plus it was at a TED talk so it hardly counts at all. Now, he’s ready to take his talents to Newport Beach, where the powers that be just have one simple request: Don’t be like the last guy.

"The industry is going through a tremendous period of change,” Ivascyn said. “And then Pimco, of course, has gone through a tremendous period of change….”

“We want this new CEO to come in and challenge convention, both industry convention and our own convention. Push us and make some change -- but we want it to be measured, responsible change.”

So no rules about eye contact or generally acting like an insaneperson. Got it. Just don’t ask him to drink any of that godforsaken spoiled grape juice you Californians call wine. Manny Roman wouldn’t make vinegar with that stuff.

Ivascyn said he expects Roman to fit in well with the Pimco culture -- mostly. “He likes French wine. It may be an issue around here for some people who like California and don’t like French,” the CIO said, signaling he wouldn’t get into that dispute. “I personally don’t know much about wine at all.”

Pimco’s New CEO Will Battle to Escape the Shadow of Bill Gross [Bloomberg]