Gregory Hall
Head of U.S. Global Wealth Management / PIMCO
Gregory Hall, Head of U.S. Global Wealth Management, discusses the key factors behind PIMCO’s five decades of success and explains why the top investment management firm is well positioned in 2026 to maintain its long-standing dominance and to grow its global wealth business.
PIMCO’s global wealth management clients are leading wealth management platforms with financial advisors who work directly with their clients.
The company, founded in 1971 as Pacific Investment Management Company LLC, manages $2.20 trillion in assets, of which $1.78 trillion are third-party client assets as of 9/30/2025.
The firm is the largest actively managed bond manager in the world, and, according to the Sovereign Wealth Fund Institute, is the 6th-largest asset manager in the world by managed AUM.
Identifying a Wealth of Opportunities
With 27 years of investment experience, Gregory Hall is well-versed in the world of finance. Hall started his career as a financial analyst at Goldman Sachs and spent 12 years at The Blackstone Group, where he served as a senior managing director before joining PIMCO.
PIMCO’s wealth management division is significant, managing nearly $500 billion in assets in the US, and representing approximately 50% of the firm’s global business.
Hall recalls that when he took on his role in August 2020, it was a fascinating time to think long-term about the future of the Wealth business in the United States.
At that time, he identified three key areas of opportunity, which he admits are still at the top of the company’s agenda today: To increase PIMCO’s market share in global wealth management, look to diversify its relationships with clients, and to continue to be innovative in terms of how the firm delivers both asset management products and information in its relationship with financial advisors.
“We’ve spent 50 years as a firm developing expertise in the fixed income markets. I’m very proud of the performance that we generate on behalf of clients, the alpha that we have generated historically and we hope to continue to generate going forward.”
He saw that, despite being a mature player, PIMCO still had significant growth potential, and there was no reason why the firm shouldn’t be able to work with more financial advisors throughout the U.S. over time. “I strongly believed then and still believe today that our traditional fixed income businesses should be looking to continue to grow market share,” he tells CEO North America.
The second major opportunity was diversification. According to Hall, over the last 20 years at PIMCO, the business developed a “truly robust” capability in alternatives, representing nearly $200 billion of AUM including private credit, hedge funds and real estate as of 9/30/2025..
Beyond alternatives, Hall identified that PIMCO could also use new vehicles to enhance its core fixed-income asset management offerings. “Active ETFs and fixed income have been one of the fastest-growing areas of the ETF market, and we’ve been key participants in that and continue to invest heavily in it. “
“Basically, our view is that we want to meet the client where they are. If they would like to access PIMCO’s alpha and performance through a vehicle like a mutual fund, that’s fantastic, and we’ll serve them in that capacity. If they prefer to do so in ETF format, that’s also fantastic, and we’ll find a way to deliver it that way. If they want to consume it in a separately managed account, we’ll find a way to do that as well. Of course, every vehicle type is different and influences how we can invest within it.”
“I think that investment in diversification has served us well over the last half decade,” Hall notes.
Client Focused Innovation
Hall admits that he wasn’t discussing AI much in 2020, but since then, he has worked continually on delivering information to clients more quickly, accurately, efficiently, and practically.
To address this, PIMCO has collaborated closely with Microsoft across the firm to equip different business functions with AI capabilities, which Hall considers invaluable. “Those tools have been verging on transformational, certainly very impactful. It’s been a combination of external partnerships that have invested a lot of time and effort in us, and then great adoption within PIMCO of our tech team and our user base.”
Hall primarily guides his team by focusing on the client’s perspective. “They’re incredibly busy people, and we need to interact with them in a way that efficiently provides what they need, doesn’t waste their time, and enables them to have the best client conversations possible.”
With that in mind, PIMCO has made significant investments in its digital capabilities to connect its communication assets more closely with clients. This includes marketing materials, fund summaries, published articles, and leadership insights, such as its podcast called Accrued Interest.
Investing in the Future
Hall proudly tells CEO North America, “We’re a truly balanced organization. We serve institutions and wealth clients worldwide, and that core value is very important to us.” He believes that over the next three to five years, globally, wealth will be one of the fastest-growing sectors in the asset management industry, including in the US.
With this, he sees future opportunities in helping financial advisors navigate the expanding range of investment options. “We see this as a growth driver for PIMCO worldwide, and we certainly see it as a growth driver within the US market.”
Overall, over the next five years, Hall doesn’t expect major changes to the macro opportunities he identified at the beginning of his role with the wealth business. “We’re in a nice position given the strength of the underlying market.”
In the short term, PIMCO’s global wealth management business will continue to prioritize growth over the next 12-18 months. “Balance between growth and efficiency is really important. I try to make sure that the team is focused on balance, not one to the exclusion of the other.”
His team is also committed to being the preeminent fixed income asset manager. “I think that everything that we do, whether it’s alternatives, ETFs, adjacent spaces, it really hearkens back to our fixed income routes and that’s something that you’ll see echoed if you look at comments from (our Chief Executive Officer) Manny (Roman) or from Dan Ivascyn, our CIO.”
When it comes to maintaining operational efficiency, Hall places great importance on the data generated from PIMCO’s interactions with their diverse client base and moving forward, his team will continue to invest in this practice. “We gain a tremendous benefit in working with our partners on the distribution side… It benefits all of us to share best practices, analyze data, and understand how financial advisors are consuming different products. This ensures that our product offerings and capabilities are aligned with the real problems they face daily.”
“Our clients are financial advisors who spend all day thinking about the financial well-being of their clients. They need to think about that across so many different dimensions. They rely on us for investment performance.”
Why PIMCO is Positioned for Success
Hall summarizes, “I believe we’re extremely well positioned, and with ongoing hard work and continued reinvestment in our business, we will remain well positioned.”
Another advantage for PIMCO is their client-first approach. “You’ve always got to work your way backward from the client,” Hall explains.
The positive news for investors is that today’s market presents many opportunities. “You can aim to deliver mid to high single-digit returns without taking on excessive risk in fixed income markets, which is an exciting environment for us.”
“I think by virtue of the work that we’ve put in over the last 50 years, establishing this position that we have in fixed income markets, we are well suited to capitalize on the current environment and to serve our clients really well.”
As private markets and alternative investments become a more prominent part of individual investors’ portfolios, Hall believes PIMCO can stand out.
“We’re one of the few firms that operate both a significant private and alternatives business alongside a substantial traditional fixed income business.”
And, according to Hall, PIMCO has reached that point mainly through organic growth. “We’ve built most of these businesses from the ground up. They share a common DNA.”
“You’ve seen a lot of money flow into private markets over the past four or five years in the wealth sector, and we sit here able to dynamically compare public and private opportunities and valuations.”
“There are relatively few firms that can honestly tell a client they see no difference between those two segments. And so, I believe that gives us a real advantage as we look ahead,” he concludes.
