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Pimco Said to Be Likely to Pick Ivascyn to Succeed Gross

Pacific Investment Management Co. is likely to name Daniel Ivascyn chief investment officer of the $1.97 trillion bond firm after Bill Gross left to join Janus Capital Group Inc., according to a person familiar with the matter.

Pimco’s board was considering Ivascyn as CIO as of last night, said the person, who asked not to be identified because the news isn’t yet public. Dan Tarman, a spokesman for Newport Beach, California-based Pimco, didn’t immediately respond to an e-mail seeking comment.