Bill Gross has left PIMCO for Janus Capital, Bloomberg reports. Gross has had what MarketWach called his "terrible, horrible, no good, very bad year." Plagued by massive outflows for years, especially in the flagship fund he personally managed, matters were made worse when his co-CIO Mohamed El-Erian, left the firm. Check out the press below:
NEW YORK (Reuters) - Former Goldman Sachs Group Inc. executive Donald Mullen, one of the architects of the subprime mortgage trade, is trying to raise at least $500 million for a fund that will buy foreclosed homes with an eye toward renting them out. Mullen, who until January was head of the credit and mortgage business inside Goldman's securities division, began marketing his Fundamental REO Access fund in earnest about a month ago, said seven people familiar with the matter, but who did not want to be identified because they do not work for the upstart fund. ...
Dan Akerson became the accidental car guy. He took the job of chief executive officer of General Motors Co. by default, out of a sense of duty.
Now the former telecommunications executive with no previous auto experience will be remembered as the man who took GM from the wake of its bailout and bankruptcy to profitability and independence.
Less than five years from GM’s government rescue, Akerson says the automaker’s biggest danger now is complacency. No one could have imagined that such a short time ago.