McCulley returns to Pimco

Reminiscent of Jobs return to Apple after near disastrous results?

Bond manager Pimco lost one familiar face this year but is seeing another return.

The Newport-Beach, California-based firm, which manages just under $2 trillion for clients, said Tuesday it has re-hired Paul McCulley, who has held a variety of positions for Pimco but now will serve as managing director and chief economist.

CNBC Jeff Cox
Pimco to turn to an old hand to steady the ship
Jeff Cox | Finance Editor