Barclays says ex-PIMCO boss El-Erian to step down from board

President of Queens' College of Cambridge University Mohamed El-Erian speaks during a panel discussion at the headquarters of the International Monetary Fund during the Annual Meetings of the IMF and World Bank in Washington·Reuters
Reuters
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LONDON (Reuters) - Former PIMCO CEO Mohamed A. El-Erian will step down from the board of Barclays, the British bank said on Friday, following his appointment as chair of sportswear brand Under Armour Inc .

A frequent media commentator on markets, finance and interest rates, El-Erian gained fame in the investing community for a successful stint at investment management firm PIMCO in the early 2000s managing emerging market bond investments.

El-Erian helped the fund to steer clear of the Argentina sovereign debt default in 2001.

After a stint at Harvard he returned to PIMCO in 2007 as CEO and co-chief investment officer alongside Bill Gross.

In 2012 U.S. President Barack Obama appointed him as chair of the President's Global Development Council.

Barclays also said it has also appointed Brian Shea, former CEO of investment services for BNY Mellon from 2014 until his retirement in 2017, as a non-executive director.

(Reporting by Lawrence White; editing by Jason Neely)