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Kashkari Says El-Erian, Gross Had ‘Constructive’ Relation

Neel Kashkari, the former head of global equities at Pacific Investment Management Co., said Pimco founder Bill Gross and his former co-head of investments Mohamed El-Erian had a “constructive” relationship during the time Kashkari was at the firm.

Reports of disagreement between the two are “overblown,” Kashkari said today in an interview with Emily Chang on Bloomberg West. “Did anyone go back and say Steve Jobs was too demanding a boss? Bill Gross has a 40-year investment track record and no one should question that.”

Kashkari, who left Pimco to pursue a career in politics, said stock-fund managers at the firm had almost full discretion over their holdings, except for “extreme positions.”

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