Bond giant Pacific Investment Management Co. has created an internal risk management committee to determine when and whether the firm should issue collateralized debt obligations and to oversee the bond manager's CDO business, according to Standard & Poor's.
By creating a firm-wide committee, PIMCO can better evaluate CDO opportunities on a broader basis, said a market official.
Mark Porterfield, spokesman, and Michael Wasserman, an analyst in S&P's CDO manager evaluations group and the author of the report, did not return calls by press time.
