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Dr. Mohamed El-Erian Takes Break from PIMCO, Bill Gross in Shock
Dr. Mohamed El-Erian is as much a part of the world’s largest fixed income fund as is Bill Gross. Since 1999 Dr. El-Erian has been a critical part of PIMCO’s fixed Income Investment Strategy. When El-Erian mentioned that he wanted to take a break and “recharge the batteries” Gross was “shocked and discouraged,” according to Bloomberg.
Gross tweeted that he was 110% ready and recharged and that he could last another lifetime. But Dr. Mohamed El-Erian had his nose to the grindstone hard for some time now. And now he wants his well-deserved new-normal break. Vcircle notes, “El-Erian had increasingly been Pimco’s public face, appearing regularly on cable television and at industry conferences.” Over four decades Bill Gross built Pimco and he had expected El-Erian to take over.
Dr. El-Erian was a deputy director at the International Monetary Fund before he came to Pimco. He also was the CEO of an investment fund of Harvard University.
Analysts expect there to be a sizable impact now that El-Erian is leaving Pimco. So far, the needle hasn’t moved, but the expectations are there. In cases when important heads leave their roles, investors can become flighty and pull out. Wherever Dr. EL-Erian will decide to hang his hat, he will be warmly received and his fans wish him the best.
Dr. Mohamed El-Erian Takes Break from PIMCO, Bill Gross in Shock by EmploymentCrossing