The chief investment officer and co-founder of the Allianz-owned bond giant left today in a surprise move, and will join Denver-based asset manager Janus Capital.
Gross, who will remain based at a new Janus office in Southern California, is reported to have left the firm after several weeks of internal discussions about his potential ouster from Pimco. Those discussions centered around his colorful behavior and an ongoing Securities and Exchange Commission (SEC) investigation into allegedly-misreported performance for the exchange-traded fund linked to Pimco's $222 billion total return fund, one of the largest of its kind.
The move comes after Mohamed El-Erian, Pimco's other co-founder, decided to step back from his role as co-CIO earlier this year.
Anthony and James talk about how regulators in the US are falling behind other nations' regulators, the lack of talk about Reg AT, and an SRO for cryptocurrencies.Subscribe to Weekly Wrap emails