Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

'I thought I knew him better': Gross breaks silence on El-Erian split

'I thought I knew him better': Gross breaks silence on El-Erian split

Pimco’s Bill Gross has described his ‘extreme disappointment’ at the sudden departure of his chief executive Mohamed El-Erian last year.

The Pimco founder broke his silence in an interview with Bloomberg: ‘He [El-Erian] hasn’t spoken up, and that’s a mystery to us and quite frankly an extreme disappointment,’ Gross (pictured) said.

‘He simply said that he wasn’t the man to take the company forward. And he constantly repeated that without explaining it. I thought I knew him better’

El-Erian, who was widely seen as the successor to Gross, shocked the investment world when he walked out on the firm.

Subsequent reports led by the Wall Street suggested there were severe tensions between the pair, referring to Gross’ autocratic  tendencies.

Gross told Bloomberg he always saw himself as a ‘family man’ and ‘leading but not forcing’ people to do anything.

‘I think for the most part I’m the person that I thought I was, but I’m willing to say that in this environment, in this new generation with our – with our deputy CIOs that it’s important to be less of a – of a strong leader and – and more of an inclusive type of leader.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter