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.
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]
In a move that stunned Wall Street, bond guru Bill Gross is joining Janus Capital Group, effective Sept. 29, the company announced Friday. Gross is leaving as chief investment officer of Pimco, the company he founded, after a remarkable 43-year tenure. Bond guru Bill Gross had met with Jeffrey Gundlach to discuss joining fixed income investment management firm Doubleline.1 Five Pimco executives told parent company Allianz they would leave Pimco if Gross did not. [CNBC, earlier] Read more »
DoubleLine Capital, the bond management firm run by Jeffrey Gundlach, said on Monday it had hired an executive from rival Pimco to run a new unit focused on developing new investment products and lines of business, particularly outside the United States. DoubleLine named Ignacio Sosa, previously Pimco’s executive vice president for global bond product management, director of its newly formed Product Solutions Group. He starts on May 12 and will report to Gundlach. Sosa’s departure comes after a management shakeup and months of investor outflows at Newport Beach, California-based Pimco. [Reuters, related]
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