Bill Gross sued Pacific Investment Management Co. and parent Allianz SE for 'hundreds of millions of dollars', claiming he was wrongfully pushed out as the bond giant’s chief investment officer by a 'cabal' of executives seeking a bigger slice of the bonus pool.
Chief financial Officer of German insurer Allianz said bond fund manager Pimco, which has seen record outflows since star manager Bill Gross departed last year, is still "the strong bond house it used to be", even as outflows continued at a rate of $32 billion in the second quarter of this year.
Sad to report.
A 'Special Performance Award' comes on top of bonus and salary policies already in place.
German insurer Allianz raised its dividend and promised to keep the cash flowing after unveiling a forecast-beating jump in net profit in Q3.
Allianz, Europe’s biggest insurer and owner of Pacific Investment Management Co., is standing by Chief Investment Officer Bill Gross as his main fund trails peers and struggles with a record streak of investor redemptions, calling him an industry 'legend'.
German insurance giant Allianz reported first quarter results on Wednesday that were hit by hefty outflows from its Pimco asset management subsidiary.
PIMCO has announced that Chief Executive Officer and Co-Chief Investment Officer Mohamed A. El-Erian has decided to step down from his role and leave the firm in mid-March.
For those with the stomach for risk, the best return in the world may come from the troubled euro region because credit risk has bottomed and the region's recovery is for real, according to David Herro, Morningstar's international fund manager of the decade.
Allianz Global Corporate & Specialty (AGCS) has appointed Elke Vagenende as Head of Product Development, Financial Lines (UK).