Stephen Treadway, the CEO of PIMCO affiliate PA Distributors who was charged with fraud back in May, has left the company, Reuters reports.
Treadway and his firm, PA Distributors, which is a retail leg of Allianz Dresdner Asset Management of America, were said to have approved trades by Canary Capital, according to the civil charges brought by the Securities and Exchange Commission. Another PA Distributor affiliate, PEA Capital LLC, saw its CEO, Kenneth Cobra, resign in April amid similar charges.
Treadway had been the chairman of the board of PIMCO Funds as well. The company spokesman who confirmed his departure, Phil Neugebauer, told Reuters that Treadway left to pursue other interests.