Bloomberg reports that "Pacific Investment Management Co.'s Paul McCulley ... will retire after 27 years in financial services to join a think tank." The article says, "McCulley oversees funds that invest in bonds with short durations, including the $11.6 billion Pimco Short-Term Fund and the $517 million Pimco Money Market Fund. He also manages the Pimco Government Money Market and was slated to manage the Pimco Treasury Money Market, which the firm plans to open next year.... In a filing with the U.S. Securities and Exchange Commission today, Pimco said Jerome Schneider, an executive vice president at Pimco, will take over the Short-Term and Money Market funds as well as Pimco Government Money Market and Pimco Treasury Money Market. Schneider joined Pimco in 2008 from Bear Stearns Cos., where he had worked since 1995. He is the deputy head of the firm's money-market and funding desk."

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