Latest Investment News

Former PIMCO Executive Bill Powers Joins Arca as Principal and Strategic Advisor

The Investor and Philanthropist Will Further Arca’s Leadership as a Premier Digital Asset Manager

Los Angeles, CA, April 08, 2021 (GLOBE NEWSWIRE) -- Arca, an asset management firm focused on investing and innovating in the digital assets space, today announced Bill Powers, Managing Partner of The Strand Partners and former PIMCO executive, has joined as a principal and strategic advisor. 

The partnership occurs shortly after Arca’s January announcement that it raised $10M in a Series A round, led by RRE Ventures with additional participation of a coalition of prominent financiers led by Littlebanc Advisors.

“Bill’s vision for the future of investing aligns perfectly with Arca’s aspiration to offer best-in-breed products to investors. Given his legacy of success at PIMCO, where he helped guide them to a leadership position in the fixed income space, the opportunity to collaborate is truly exciting, ” said Arca CEO Rayne Steinberg. “We know that Bill’s unique expertise will help Arca grow and energize institutional engagement across the digital asset landscape.” 

As an advisor, Bill will help shape the strategic direction of the company, focusing on the development and distribution of asset management products for institutional clients, and help expand into new markets. 

“When I was first introduced to Arca, I wanted to learn more about digital assets beyond cryptocurrencies. The Arca team brought me up the learning curve with an appreciation for their investment style, process and philosophy. Arca reminded me of PIMCO when I joined in 1991 with $29 billion in assets under management (today $1.5 trillion in AUM) and a small but world-class investment team,” said Bill Powers. “Through innovation in the range of highest quality product offerings and a focused vision, PIMCO achieved its extraordinary growth potential. I see the same bright prospects for Arca, including growth in both existing and future products and broadening and deepening its base of clients. I believe I can add value in similar ways to Arca to accelerate institutional adoption of their products. We are well on our way to becoming a premier firm in digital asset management, which is our aspiration.”

An investor and philanthropist, Bill spent 19 years at PIMCO where he served as a fixed-income portfolio manager and managing director. He was a member of PIMCO’s Investment and Executive Committees. He launched and oversaw PIMCO’s global portfolio management operations in London, Tokyo, Sydney, Toronto, Munich, and Singapore. Prior to PIMCO, Bill was a Senior Director and Fixed Income Management Committee member at Bear Stearns, and a Mortgage Specialist at Salomon Brothers.



About Arca

Arca is an asset management firm investing and innovating in digital assets. Our mission is to offer high-quality asset management products that meet the operational, compliance, legal, and regulatory standards needed for sophisticated investors to gain exposure to digital assets. Arca’s product set includes actively-managed hedge funds, passive vehicles, and first-to-market blockchain transferred funds (“BTFs”), developed by our innovation division, Arca Labs. Arca was the first registered fund to issue shares via the blockchain, which integrates blockchain’s peer-to-peer technology and instant settlement features with traditional investment vehicles. Arca’s founders and senior team members have worked in traditional finance and FinTech across many asset classes and are working to bring the best of traditional finance practices to digital assets to deliver the right product to the right investor at the right time. Learn more about Arca: https://ar.ca 


###

 

 


Fran Del Valle
Rally Point Media Strategies
917-922-5653
fran.delvalle@rallypointms.com
Source: Arca