A spat worthy of a soap opera has rocked the staid world of fund management. In one corner is ‘bond king’ Bill Gross who co-founded Pacific Investment Management Co (Pimco) in 1971 and built it into the world’s biggest bond-fund manager.
In the other is his former CEO Mohamed El-Erian who left abruptly earlier this year. It seems their relationship deteriorated last summer, with El-Erian irked by Gross’s dictatorial management style. “I have a 41-year track record of investing excellence,” The Wall Street Journal’s Gregory Zuckerman quotes Gross telling El-Erian. “What do you have?” “I’m tired of cleaning [...]
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