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Bond veteran Bill Gross ‘fired from Pimco’ after offer to scale back role

Pimco founder Bill Gross has claimed he was fired by the fund manager after offering to pare back his role at the firm.

In an interview with Bloomberg, Gross said he offered to step down from the executive committee and compensation committee and oversee closed end funds after “differences with management” over the firm’s business direction.

“For some reason still unbeknownst to me, they didn’t think that was a good idea and they did fire me,” Gross said.

“In the last few weeks, it blindsided me; I had no idea that an executive committee could fire a founder and the titular leader of the company.”

Gross shocked the investment world in September when he announced he was leaving the firm to join Janus Capital to manage the Janus Capital Unconstrained Bond fund and related strategies.

Gross previously managed Pimco’s flagship Total Return fund, a mandate now under the stewardship of Daniel Invascyn. The fund has seen huge outflows since the bond veteran’s departure.

Pimco could not be reached for comment.

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