A PIMCO trustee board member blasted billionaire bond guru Bill Gross for being overpaid.
“You could hire 2,000 schoolteachers for that money. I don’t know what Bill should be paid, but $US200 million is not appropriate,” trustee William Popejoy told the LA Times’ E. Scott Reckard.
Last month, Gross was the subject of an incredibly unflattering Wall Street Journal article.
The inside account detailed how Gross had a nasty clash with Mohamed El-Erian in front of the other employees. El-Erian, PIMCO’s CEO/co-CIO, abruptly resigned from PIMCO in January.
Sources also told the Journal that Gross referred to himself as “Secretariat,” the legendary racehorse.
Popejoy slammed Gross again over that. “I don’t know if Secretariat made $US200 million a year,” he told the LA Times.
The WSJ article also said that Gross doesn’t let his traders make eye contact with him or speak to him in the morning.
Popejoy described Gross’ leadership style to the LA Times as “bullying” based on what he’s read.