Pacific Investment Management Co. cut its workforce by 68 people, or about 3 percent, and is offering buyouts as assets under management have fallen in recent years, according to a memo obtained by Bloomberg. “Like any responsible business, PIMCO constantly …
Allianz Asset Management reported a 17 percent decline in first-quarter earnings as investors continued to withdraw money from its Pacific Investment Management Co. unit 19 months after the ouster of Chief Investment Officer Bill Gross. Operating profit at Allianz Asset …
The chorus of global financial leaders warning about the fallout from negative interest rates is getting bigger. Nobuyuki Hirano, president of Mitsubishi UFJ Financial Group Inc., lambasted the Bank of Japan’s negative rates last week for putting banking stability at …
Pacific Investment Management Co. said former bond manager Bill Gross’ abusive conduct and effort to sabotage colleagues he deemed disloyal gave it “good cause” to oust him, and not pay any of the more than $200 million of damages he …
Bond manager Bill Gross will be able to pursue his lawsuit to recoup at least $200 million he claims that Pacific Investment Management Co. owes him in the wake of his 2014 ouster from the firm he co-founded. California Superior …
Bond fund manager Bill Gross on Tuesday accused Pacific Investment Management Co. of falsely claiming he suddenly decided to abandon the firm he co-founded in an effort to win dismissal of his $200 million breach-of-contract lawsuit. In papers filed in …
Allianz SE missed analyst estimates for fourth-quarter profit because of claims from natural catastrophes. Net income at Europe’s biggest insurer increased to 1.42 billion euros ($1.6 billion) in the quarter from 1.22 billion euros [$1.3 billion] a year earlier, the …
Allianz SE, Europe’s biggest insurer, said third-quarter profit dropped 15 percent as earnings at its property and casualty and asset management units declined. Net income fell to 1.36 billion euros ($1.48 billion) from 1.61 billion euros [$1.7 billion] a year …
Allianz SE, Europe’s biggest insurer, said second-quarter profit rose 15 percent as lower claims from natural catastrophes offset a drop in earnings at Pacific Investment Management Co. Net income increased to 2.02 billion euros ($2.2 billion) from 1.76 billion euros …
Allianz SE, Europe’s biggest insurer, said first-quarter profit from asset management slid on outflows from Pacific Investment Management Co. Operating profit at the business, which consists of Newport Beach, California-based Pimco and Allianz Global Investors, fell 14 percent to 555 …
