CALIFORNIA
Check out the new California section

Topics

Duke University
Pimco bond fund guru Bill Gross defects to rival Janus Capital
Pimco bond fund guru Bill Gross defects to rival Janus Capital

Bill Gross, the unconventional but wildly successful money manager who helped build Pacific Investment Management Co. into a financial juggernaut, shook up the staid bond industry Friday by jumping ship to a rival firm. A yoga-practicing billionaire who doesn't own a cellphone, the 70-year-old Gross — known as the bond king — left the Newport Beach company amid clashes with other executives and declining returns. The turmoil includes a federal investigation, the earlier departure of Pimco's high-profile chief executive and an outflow of billions of dollars from the firm's signature bond fund — the largest of its kind and a staple in Americans' 401(k)...

Loading