Gross: I was fired by PIMCO

Bill Gross has revealed for the first time that his departure from PIMCO last year was not voluntary.

Gross (pictured) told Bloomberg that the company, which he co-founded in 1971, dismissed him despite the bond manager offering to reduce the scope of his own role. He claimed that his offer to step down from the executive and compensation committees and oversee closed-ended funds instead was rejected by leading figures at PIMCO. He said, "for some reason, still unbeknownst to me, they did not think that was a good idea and they did fire me." Gross left the company in September, to the surprise of investors, and joined Janus Capital. His departure followed months of successive ou...