In the weeks that followed, Gross tried to close ranks. He spent more than 20 minutes before a firm-wide meeting to discuss the media scrutiny that had beset the company, a speech in which he disparaged El-Erian, according to two people. When he ended to a standing ovation from the audience, including Hodge and Ivascyn, at least one executive declined to rise. Thimons, a managing director outspoken in his objections to Gross’s leadership, disagreed with his comments and refused to stand, according to a person who was present. El-Erian’s departure had prompted media scrutiny and reports of clashes between El-Erian and Gross. The Wall Street Journal cited one example where Gross complained that El-Erian wouldn’t let him run the firm’s entire $2 trillion in assets…To stop the reports, Gross set up interrogations of members of the investment committee, managing directors, and lower-ranking money managers. He carried around a three-ring binder of printed-out e-mails and hand-written notes to find out who was talking to the press. Among his suspects were Balls, a former journalist, and Thimons, the executive who had remained seated during the standing ovation and who had organized a going-away party for El-Erian. — Bloomberg News, December 3, 2014
- Security camera footage of the office break room showing a young trader offering El-Erian a bite of his sandwich?
- Eyewitness accounts of a member of the investment committee shaking El-Erian’s hand on his last day of work?
- Chicken scratch that said something about how he was almost sure he saw two executive assistants mocking the birthday party he’d held for Bob The Cat last year. He was on the other side of the room so “not positive” but can read lips so pretty certain?
Bill Gross Reacts To George Soros’s $500 Million Investment Like He’s Been Awarded The Presidential Medal Of FreedomBy Bess Levin
If George Soros, whose fund threw Gross a couple of nickels earlier this week, had any doubts about his investment with the former Pimco CEO, they have been assuaged. Not only has Gross pledged his undying stewardship of Soros’s capital but he’s promised to watch over the money 24 hours a day, 7 days a week, no matter what. Should Soros have any questions, any questions at all, he should feel free, nay, encouraged to give Bill a call, day or night (obviously it goes without saying that Gross has assigned him a special ringtone and programmed Soros’s number to ring through regardless of any Do Not Disturb settings). Read more »
Bill Gross is a legendary bond investor who co-founded Pacific Investment Management in 1971. He once referred to himself as the Secretariat (as in, the thoroughbred horse) of investing and, at PIMCO, was known for discouraging employees from speaking to him or looking him in the eye. In 2014, he joined Janus Capital Management after a series of, let’s just call them “incidents” led senior employees to tell management is us or this guy.
Continue through the pages below to read the saga of legendary American financier, Bill Gross.
The compensation committee keeps the minutes of its meetings private, but considering that Gross far surpassed any expectations parent company Allianz might’ve set in the aforementioned areas, it seems obvious crows1 and alienation figured significantly in his 2013 pay. Read more »
The maestro’s former fund still exists, as the company will demonstrate today. Sure, it’s trading with a lot less money. But it’s a survivor, and it’s even doing basically the same stuff that Gross did before he
quit before he could be fired pursued a new opportunity in Denver. Read more »
Next Time You Come Into Jeff Gundlach’s House You Show Him Some Respect And Eat The God Damn Crudités He Offers YouBy Bess Levin
Just about a month earlier Bill Gross of Pacific Investment Management Co., the reigning master of the bond universe for two decades, requested an audience with Gundlach…“Bill was in his own world,” says a house-proud Gundlach, with a tone of disdain. “He doesn’t say anything [about my place]. Nothing. Doesn’t eat anything or even take a sip of water in three hours.” [Forbes]