American economist Paul McCulley was a former managing director at Pacific Investment Management Co. (PIMCO) with an estimated net worth of $50 million. Before his retirement from the investment firm, he was the managing director, generalist portfolio manager and member of the investment committee. He also headed the short-term bond desk, led the firm’s cyclical economic forums and authored the monthly research publication, Global Central Bank Focus. He retired in December 2010 and joined the Global Interdependence Center.

Before joining PIMCO in 1999, Mr. McCulley was the chief economist for the Americas at UBS Warburg. Between 1996 and 1998, he was named to six seats on the Institutional Investor All-America fixed-income research team. He has 25 years of investment experience and has coined the terms Minsky moment and Shadow banking system which became famous during the financial crisis of 2007-2009. He is particularly influenced by Hyman Minsky. He is also a regular guest of CNBC and Bloomberg Television where he provides investment commentary. He also holds an MBA from Columbia Business School and earned his undergraduate degree from Grinnel College.