What Gross’s exit means for Pimco
The king of bonds, Bill Gross, didn’t settle for an amicable retirement. What does his departure mean for Pimco, for Janus – and for himself?
The bond king has abdicated his throne. On Friday, Bill Gross announced his departure from Pimco, the firm he co-founded in 1971. Pimco’s senior executives were reportedly getting ready to oust him as chief investment officer. Gross not only jumped before he could be pushed, he stuck a knife in their ribs.
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