Pimco tops $1 trillion of advisory mandates, says Reuters

Reuters reports that west coast asset management giant Pimco has expanded its advisory business. The article quotes Richard Weil, head of Pimco Advisory as saying that the unit has gone from advising on $20 billion of assets before 2008 to more than $1 trillion today. These mandates include helping clients restructure loan portfolios and structured credit services. The business is now split evenly between public sector clients such as the US treasury and Federal Reserve and the private sector. Weil is reported by Reuters as saying that 80% of the business is in the US and 20% in Europe.