Investors hope the Bond King can remake himself as a team player.
Reuters reports that Bill Gross last month abruptly left Newport Beach, California-based Pimco, the firm he built into a bond giant, to join Janus Capital Group, a small Denver firm that touts on its website how its friendly, team-oriented culture creates 'strong collaborators.'
While investors are certainly excited about the move - Janus shares are up 30 percent since the announcement - some wonder just how much easily the outspoken, 70-year-old Gross will fit in at the firm led by Pimco veteran Richard Weil. Weil hired Gross at the urging of former Pimco chief executive officer Bill Thompson, according to two people familiar with the matter.
But Janus already has a bond leader in Gibson Smith, who has less star power than Gross but has quietly delivered better performance in recent years. He is said to work well with Janus CEO Weil, and has emphasized a team approach, which could be a contrast with the autocratic style that Gross showed at Pimco.
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