The Bond King has had a streak of bad quarters and in a shock announcement he’s quit the firm he co-founded and is joining Janus Capital.
Bill Gross is PIMCO.
Here’s the press release.
Janus Capital Group Inc. (NYSE: JNS) today announced that William H. Gross, world-renowned fixed income investor, will be joining Janus Capital Group. He will manage a recently launched Janus Global Unconstrained Bond Fund and related strategies, and will join Myron Scholes, Ph.D., and other members of the Janus team focused on global asset allocation. Mr. Gross’ employment will be effective September 29, 2014 and he will begin managing the Janus Global Unconstrained Bond Fund and related strategies effective October 6, 2014.
Word is that PIMCO put in policy saying employees had to tie up their neckties and Gross quit in rebellion.
Bill Gross
Talk about the market cheering a change in leadership — Janus shares are up huge.
More coverage on Gross:
The question isn’t how much money will follow Gross to Janus, it’s how it will get there
The race is on to guess who will replace Bill Gross
