Bernanke named chairman of advisory panel to bond giant PIMCO

Former Federal Reserve Chairman Ben Bernanke has taken on added responsibilities with major bond investment firm PIMCO, which on Monday announced that he would serve as chairman of a new Global Advisory Board.

The board will feature high-profile former government officials, including British Prime Minister Gordon Brown, former Singaporean sovereign wealth fund investment officer Ng Kok Song, former European Central Bank president Jean-Claude Trichet and former Obama State Department official Anne-Marie Slaughter.

"Sharing insights on how global macroeconomic and geopolitical policy affects markets and investments is an important part of the value we bring to investors as stewards of their assets, so our clients will benefit greatly from the experience and insight the Global Advisory Board will provide to us," said PIMCO CEO Douglas Hodge.

The announcement marks an expansion of Bernanke's role at the firm. He became a consultant to the firm in April.

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