Skip to content
Subscriber Only

Pimco’s Gross to Join Janus Capital to Manage Bond Fund

Bill Gross, who co-founded Pacific Investment Management Co. more than four decades ago and rose to become manager of the world’s biggest bond mutual fund, is leaving amid a dispute with management over how to move the firm forward and end record redemptions.

Gross, 70 and until today manager of the $222 billion Pimco Total Return fund, will join Janus Capital Group Inc. to oversee a new bond fund, according to a statement today from Denver-based Janus. As of last night, Pimco was considering naming Daniel Ivascyn to succeed Gross as CIO, according to a person familiar with the matter who asked not to be identified because the information is private.