'Bond market king' Bill Gross announces resignation from Pimco
California based “bond market king” Bill Gross has announced his surprise resignation from Pimco, the worlds biggest bond investor which he founded in 1971.
Bill Gross is one of the bond market’s most high profile investors and will join for rival asset management firm Janus Capital Group.
Shares in German insurer Allianz, which owns Pimco fell today after Janus announce the news. The Wall Street Journal reported earlier this week that US securities regulators were investigating Pimco.