Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The Quarter-Billion-Dollar Man Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 14, 2014

The Quarter-Billion-Dollar Man

News summary by MFWire's editors

$290 million, and $230 million. That's how big the 2013 bonuses were for Bill Gross and Mohamed El-Erian, respectively, in their final year together at Pimco.

Mary Childs of Bloomberg reports that, according to Pimco documents, the Newport Beach, California-based mutual fund giant paid those bonuses last year, even as Gross' Total Return Fund performance lagged last year.

Pimco spokesman Dan Tarman told Bloomberg that the figures "are not correct," though Tarman reportedly declined to go into details. He added that Pimco's managing directors currently receive 30 percent of the profits of Pimco.

Bloomberg also puts Gross' bonus into the context of other Pimco executives' 2013 bonuses. Dan Ivascyn, now Gross' successor as chief investment officer, received a $70 million. Product management chief Wendy Cupps received $50 million. Doug Hodge (who subsequently succeeded El-Erian as CEO, before Gross departed) received $45 million. And president Jay Jacobs received $22 million. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use