PIMCO's chief executive El-Erian to step down in March

Anna Fedorova
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Mohammed El-Erian, chief executive of PIMCO and the man perceived by many as Bill Gross' heir apparent at the largest bond manager in the world, has resigned from his role.

El-Erian, who is chief executive and co-chief investment officer of the firm where he works alongside Gross, will step down from his role in March. A statement from PIMCO's parent company, Allianz,...

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