Bill Gross has taken on additional duties, at least for now. The Wall Street Journal's Rick Carew and Eleanor Laise report that the Pimco founder and co-chief investment officer will temporarily take over the Pimco Absolute Return Strategies hedge funds (i.e. PARS), as derivatives desk chief Changhong Zhu leaves to join the Chinese State Administration of Foreign Exchange as chief investment officer of its reserve-management department. 

Edited by: Neil Anderson, Managing Editor


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