Some big lessons in this story…
Pimco Strife Puts Allianz Management of Firm Center Stage
By Oliver Suess
September 26, 2014 2:36 PM EDT
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With two key leaders quitting Pacific Investment Management Co. in nine months, Allianz SE will need to show that Europe’s biggest insurer is capable of managing a mutual fund behemoth.
Bill Gross, 70, who co-founded Pimco more than four decades ago and rose to become manager of the world’s biggest bond fund, is leaving amid a dispute over how to move the firm forward and end record redemptions. His exit comes after Pimco in January announced the abrupt resignation of former Chief Executive Officer Mohamed El-Erian, who had clashed with Gross over management of the firm.
Gross’s departure also coincides with a U.S. regulatory probe … To article
Great news earlier this year about a member of Urban Financial Services Coalition!
“Fifth Third Bank is proud to announce that Kala Gibson, senior vice president and affiliate head of Business Banking – Eastern Michigan, will be assuming an expanding role in the Business Banking Division. He will now assume national responsibilities for Business Banking as the Business Banking national sales manager. He will be responsible for business banking across Fifth Third Bank’s franchise which includes 18 affiliates across 12 states.”