Bill Gross, the self-proclaimed “Justin Bieber of bonds”, reportedly threatened to quit his job at Pimco, The Wall Street Street Journal’s Gregory Zuckerman reports.
Earlier this year, Gross was the subject of an extremely unflattering Wall Street Journal article. The inside account detailed how Gross, who would refer to himself as “Secretariat”, had a nasty clash with Mohamed El-Erian in front of the other employees. El-Erian, PIMCO’s CEO/co-CIO, abruptly resigned in January.
According to the Journal, the eccentric bond guru has received some warnings about some of his recent his media appearances/public comments since El-Erian’s departure.
About three months ago, a group of Pimco senior executives became so concerned about Mr. Gross’s dealings with the media that they warned him to stop making public comments they viewed as divisive, according to people familiar with the matter. Mr. Gross, the face of a firm that manages $US1.97 trillion and its star investor, has threatened to quit more than once since Mr. El-Erian’s March departure, including after that warning, the people say.
Then again, Gross doesn’t seem to be totally sure if he offered to resign based on these contradictory statements he gave The Journal.
In a July 7 written statement, Mr. Gross said he has offered to resign “several times” over the past seven years — including when Mr. El-Erian submitted his resignation, when he tried to persuade Mr. El-Erian to stay. On Thursday, in a new statement, Mr. Gross said: “I have never considered leaving the firm” other than to allow Mr. El-Erian the sole chief-investment-officer responsibility.
Read the whole report at WSJ.com.