Wednesday, March 29, 2023
HomenetnetGross on Pimco: Better 'than we were before'

Gross on Pimco: Better ‘than we were before’

Bill Gross and the rest of bond giant Pimco are moving past the Mohamed El-Erian era.

In his latest letter to clients, Gross, the co-chief investment officer of the firm that manages $1.92 trillion for clients, did not mention El-Erian by name but asked clients to stick with the firm now that the former CEO is gone.

Bill GrossTim Boyle | Bloomberg | Getty Images

In fact, the statement could be seen as a fairly bold declaration to begin the firm's post-El-Erian attitude.

"Stick with PIMCO. Believe me when I say, we are a better team at this moment than we were before," Gross said.

(Read more: El-Erian's departure disappointing: Gross)

"I/we take the future challenge faced by all asset managers with close to a sacred trust," he added. "Not the one that the ancients granted to animals, but a more modern one embraced by the relationship of client/fiduciary and the need to be held accountable, sort of like the pigs and locusts in days of old when knights were bold."


Most Popular