As a former IMF executive and now CEO of Pimco, the world’s largest bond firm, Mohamed El-Erian, 52, knows something about money, markets and global politics. But recent developments in Egypt — namely the overthrow of strongman Hosni Mubarak in a relatively quiet revolution of educated youth — brought fresh optimism to his world outlook.
Born in New York City, El-Erian spent his formative years in Egypt and experienced a “whole range of emotions,” mostly “immense joy,” at recent events in Cairo’s Tahrir Square, where the populace successfully rejected government bribes and threats of a military crackdown. El-Erian is the son of an Egyptian diplomat and speaks Arabic, English and French.
An economist, he rose through the ranks of the IMF to become a deputy director; he ran Harvard’s huge endowment before returning to Pimco, where previously he had been a portfolio manager. He hopes the changes in Egypt lead to a lasting and peaceful democracy, ushering in “reforms that unleash the potential of the Egyptian people,” or, as investors might put it, unlocking Egypt’s inner value.
