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Pimco’s Banet to Quit for Food Truck Selling Sandwiches

For Pacific Investment Management Co.’s Jeremie Banet, the lure of French food has outweighed his ambition to beat the bond market.

The 36-year-old fund manager who specializes in inflation-protected bonds is leaving June 10 to start a food-truck business in Los Angeles and Orange County. Banet is exiting the Newport Beach, California-based firm on good terms after a “change of heart,” he said yesterday in a telephone interview. Banet, who joined Pimco in 2011, said he will sell croque monsieurs, grilled ham-and-cheese sandwiches typical to French bistros and cafes.