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Marc Seidner, a fund manager who was Pimco’s interim head of equities, quit in January—the same day the company was supposed to announce his promotion, says the Financial Times.

Read: Bearing up with bonds

Seidner was supposed to become a deputy to Bill Gross, Pimco’s chief investment officer. Seidner was meant to replace Mohamed El-Erian, who also quit.

Two sources cited by FT say Seidner wanted out because he couldn’t handle Gross or working conditions. Senior management have also disagreed about whether Pimco should stick to bonds or focus on other assets.

Read more here.

Also read:

Bill Gross blasts Britain and eurozone over austerity

Prepare bond investors for year ahead

Originally published on Advisor.ca

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