Tags: pimco | bill gross | mohamed el-erian | investment

Gross: Pimco Better After Changes Spurred by El-Erian's Exit

Tuesday, 04 Feb 2014 12:36 PM

Pacific Investment Management Co.’s Bill Gross said his firm is stronger now following the leadership changes triggered by Chief Executive Officer Mohamed El-Erian’s resignation on Jan. 21.

“I think we’re a better company now than we were a month ago and that is a big statement,” Gross said in an interview with Erik Schatzker and Stephanie Ruhle on Bloomberg TV’s “Market Makers.”

Pimco named six deputy chief investment officers last week to the emphasize the depth and breadth of its investment talent after the resignation of El-Erian, who shared the role of co- chief investment officer with Gross and was his heir apparent.

Gross reiterated during the interview that he was disappointed and surprised by El-Erian’s decision to leave, and has said he tried to convince him to stay.

“I thought I fulfilled my job to find my successor, but obviously not,” Gross said today. “Pimco is moving on though.”

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Pacific Investment Management Co.'s Bill Gross said his firm is stronger now following the leadership changes triggered by Chief Executive Officer Mohamed El-Erian's resignation on Jan. 21.
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Tuesday, 04 Feb 2014 12:36 PM
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