Not really Gross was way past his best use by date when he was fired by Pimco.
PIMCO: We had good cause to get rid of Gross PIMCO: We had good cause to get rid of Gross
Tuesday, 5 Apr 2016 | 1:33 AM ET | 02:32
Pimco has stepped up a legal war of words with its former chief investment officer Bill Gross, saying he could have been fired for abusing his colleagues in the months leading up to his abrupt resignation in 2014.
The fixed income asset management company on Monday filed its response to Mr Gross’s claim that he is owed at least $200m in lost bonuses and compensation.
Pimco failed last month in an attempt to have the lawsuit thrown out, opening up the prospect of a long and potentially embarrassing series of hearings and disclosures about its culture and remuneration.
The company has been working to stem customer outflows since Mr Gross shocked the asset management industry by walking out in September 2014. Mr Gross, meanwhile, has been working to re-establish his reputation as the “bond king” at Janus Capital, a smaller firm.
Gross on profits and pandas Gross on profits and pandas
Wednesday, 30 Mar 2016 | 2:00 PM ET | 04:10
Pimco’s formal response to Mr Gross’s complaint puts him on notice that it plans to expose embarrassing details about what it calls his “self-destructive” final months at the company he helped build over 37 years.
Following the resignation of Pimco’s chief executive, Mohamed El-Erian, in January 2014, and newspaper reports about conflict between the two men, “Mr Gross became consumed . . . with protecting his own public image above all else”, Pimco says in its filing.
“In single-minded pursuit of that objective, he undertook a disruptive and unacceptable course of conduct that included breaking commitments to abide by management decisions, trying to sabotage the careers of the former CEO and others he suspected of disloyalty, and treating his colleagues abusively.”
http://www.cnbc.com/2016/04/04/pimco-raises-the-heat-in-battle-with-bill-gross.html
Janus Capital has underperformed its peers since Gross joined the firm.