Significant underperformance coupled with the exit of high-profile CEO Mohamed El-Erian caused Gross to re-evaluate the way he was running the firm.» Read More
Public shouting matches. A tense working atmosphere. A man at the top running amok. These are not the things one usually associates with Pimco.
The Wall Street Journal writer Gregory Zuckerman suggested Pimco is a "difficult place to work." Bill Gross responds. "Mohamed left because he told us he wasn't the man to carry out his own plan," Gross says.
Bill Gross responds to The Wall Street Journal writer Gregory Zuckerman's article on the work environment at Pimco, and the relationship between Mohamed El-Erian and Bill Gross.
CNBC's Jeff Cox discusses why there is inner turmoil at Pimco right now.
NEW YORK, Feb 19- Since his ouster from American International Group Inc in 2005, Maurice "Hank" Greenberg has been quietly building an insurance and investment conglomerate that people close to him describe as a mini version of Warren Buffett's Berkshire Hathaway Inc..
NEW YORK, Feb 11- The Pimco Total Return Fund, the world's largest bond fund, increased its holdings of U.S. government-related securities in January to notch a modest gain for the month after Treasuries prices rose, data from the firm's website showed on Tuesday.
BOSTON/ NEW YORK, Feb 6- In the past, billionaire investor Daniel Loeb would often wait for an industry conference before revealing his investment ideas. Such announcements-- including Loeb's bet on Dow Chemicals and Kyle Bass' bet on General Motors-- often lead to big swings in share prices as other investors pile on.
Pimco's Bill Gross discusses Puerto Rico's troubled debt and shares his Fed forecast, calling the taper "a good thing."
CNBC is nominating the top 25 most influential leaders in business. CNBC's Kayla Tausche, Kate Kelly and Mary Thompson share their opinions on Bill Gross, George Soros and other big players.
NEW YORK, Feb 5- Pimco's Bill Gross, manager of the world's largest bond fund, reassured investors and clients on Wednesday that the departure of his heir apparent, Mohamed El-Erian, will not affect the performance of the firm.
Bill Gross, and the rest of bond giant Pimco, are moving past the Mohamed El-Erian era.
NEW YORK, Feb 5- Pimco's Bill Gross, manager of the world's largest bond fund, said on Wednesday that the lower U.S. government deficit is slowing credit growth, a phenomenon that could hurt economic growth and risk assets.
Pimco rose 1.35 percent in January after posting its worst annual loss since 1994 last year, preliminary data from Morningstar showed on Monday.
NEW YORK, Feb 3- The Pimco Total Return Fund, the world's largest bond fund run by Bill Gross, rose 1.35 percent in January after posting its worst annual loss since 1994 last year, preliminary data from Morningstar showed on Monday.
"We thought he would be my successor ... That's not going to be the case," Pimco co-founder Bill Gross said.
Mark Kiesel, Virginie Maisonneuve, Scott Mather and Mihir Worah, currently managing directors at Pacific Investment Management Co., will join Dan Ivascyn and Andrew Balls as deputy chief investment officers.
NEW YORK, Jan 29- Pimco, the world's largest bond fund manager, said on Wednesday the firm had appointed four additional deputy chief investment officers ahead of CEO Mohamed El-Erian's departure.
BOSTON, Jan 23- When Pimco co-founder Bill Gross' heir apparent abruptly stepped down this week, the news illustrated just how reliant the company is on its star manager, an uncomfortable fact for investors who worry the 69- year-old has not done enough to find a replacement.
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