FYI: When Bill Gross quit bond giant Pacific Investment Management Co. three months ago, almost as stunning as his departure was his choice of employer: Janus Capital Group Inc. (JNS), a struggling stock fund manager whose assets had shrunk by half from a peak 14 years earlier.
Two chief executive officers had tried and failed to turn around the firm. A third, Richard M. Weil, a former Pimco operating chief who had worked with Gross before moving to Janus, started to diversify, yet redemptions persisted.
When Gross asked to run a new, popular type of bond fund for Janus, Weil knew it may be the break he had been looking for
Regards,
Ted
http://www.bloomberg.com/news/print/2014-12-19/weil-counts-on-gross-as-peyton-manning-to-turn-around-janus.html
