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Executive Move- Treadway Quits as CEO Of PIMCO Distributor

Stephen Treadway, the chief executive officer of PIMCO affiliate PA Distributors, who was charged with fraud back in May, has left the company. 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, saw its CEO, Kenneth Cobra, resign in April amid similar charges. Treadway had been the chairman of the board of PIMCO Funds, as well. A company spokesman said Treadway left to pursue other interests.