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October 6, 2014

Who is the man replacing ‘Bond King' Bill Gross?

  • Daniel Ivascyn now runs the huge mutual fund firm Pimco, and that's seen as a move toward a more team-oriented culture.
  • By KEN SWEET
    AP Business Writer

    NEW YORK — With Bill Gross' surprise departure from Pimco, 45-year-old Daniel Ivascyn now finds himself watching over trillions in assets at the huge mutual fund firm.

    The new chief investment officer takes over from a fiery Wall Street legend. Gross co-founded Pimco in 1971 and ran the firm for four decades, turning the company's flagship product, the Total Return Fund, into a $221 billion behemoth. His success earned him the title “Bond King.”


     
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