KEY POINTS:
The age of 81 may seem a little late for an economics consultant to be signing up his first client, but Alan Greenspan is, of course, no ordinary consultant.
The sagacious former chairman of the Federal Reserve, guardian of US monetary policy for 18 years, is embarking on a new career as a public speaker, author and - now - adviser to Wall Street.
Pimco, the US investment management arm of the German financial giant Allianz, has hired Greenspan to advise on strategy and to offer insights into future interest-rate setting.
The firm is one of Wall Street's biggest investors in bonds, whose movements are uniquely sensitive to interest rate expectations, and the deal to hire Greenspan teams him with Pimco's boss, Bill Gross, one of America's most respected commentators on the bond market.
- INDEPENDENT
