PIMCO News

Allianz Reports 11.2% Hike in Net Income During Third Quarter

During the third quarter of 2014, Allianz Group reported total quarterly revenues increased 14.5 percent to 28.78 billion euros*, compared to 25.14 billion euros in the third quarter of 2013. Operating profit stood at 2.65 billion euros, up 5.2 percent …

Allianz CEO’s Contract Likely to Be Extended

Allianz is set to extend the contract of its Chief Executive Michael Diekmann by two years as the German insurer seeks to soothe the turmoil over leadership change at its Pimco subsidiary, a German newspaper reported. Allianz’s supervisory board will …

‘Bond King’ Bill Gross Resigns From PIMCO, Joins Janus

Bill Gross, the bond market’s most renowned investor, quit PIMCO for distant rival Janus Capital Group Inc on Friday, the day before he was expected to be fired from the huge investment firm he co-founded more than 40 years ago. …