PIMCO CEFs add Smith chief as third new indie in three years

Kathleen McCartney takes spot on the board left open in December by retirement of 19-year veteran Hans Kertess.

The board of the PIMCO closed-end and interval funds added Smith College president Kathleen McCartney as an independent trustee earlier this year, the board disclosed in a filing with the Securities and Exchange Commission.

The board announced in a Sept. 2 filing that it had appointed McCartney on July 2 with the expectation she would stand for election at the funds’ next shareholder meeting.

McCartney is the board’s third new member in as many years, following the addition of Grace Vandecruze last summer and Joseph Kittredge, Jr., in 2020. McCartney’s appointment follows the retirement at the end of 2021 of 19-year veteran Hans Kertess.

McCartney, 66, is the president of Northampton, Mass.-based Smith College, which she has led since 2013. She is also president of Five Colleges, Inc., a consortium of liberal arts colleges and universities in Western Massachusetts.

Prior to taking over at Smith, McCartney was dean of Harvard Graduate School of Education from 2006 to 2013.

The board’s other independent trustees include Kittredge, 68; Vandecruze, 59; Sarah Cogan, 66; William Ogden, IV, 77; Alan Rappaport, 69; and chair Deborah DeCotis, 70.

The board’s two interested trustees are PIMCO managing director and co-head of U.S. global wealth management strategic accounts David Fisher, 54, and PIMCO senior advisor John Maney, 63.

Keisha Audian-Pressley has been the funds’ chief compliance officer since 2018.

The board, which oversees 29 funds, maintains an audit oversight committee, a governance and nominating committee, a valuation oversight committee, a contracts committee, and a performance committee.

Total compensation for the independent trustees ranged from $225,000 to $300,000 for the 2021 calendar year.

Newport Beach, Calif.-based PIMCO managed $1.82trn globally at the end of the second quarter.

Kathleen McCartney
  • President, Smith College, 2013 – Present
  • President, Five Colleges, Inc., 2020 – Present
  • Dean, Harvard Graduate School of Education, 2006 – 2013