NEWPORT BEACH, CA—Bill Gross, founder of locally based PIMCO Co., has left his post there and will join Janus Capital Group Inc., effective September 29. He will manage a recently launched Janus Global Unconstrained Bond Fund and related strategies and will join Myron Scholes, Ph.D. and other members of the Janus team focused on global asset allocation as of October 6.

Gross will be based in a new Janus office to be established in Newport Beach and will be responsible for building-out the firm's efforts in global macro fixed-income strategies. His concentration on such strategies will be separate and complementary to Janus' existing and credit-based fixed-income platform, built under the leadership of the firm's fixed-income CIO Gibson Smith.

Gross says, “I look forward to returning my full focus to the fixed-income markets and investing, giving up many of the complexities that go with managing a large, complicated organization. I chose Janus as my next home because of my long-standing relationship with and respect for CEO Dick Weil and my desire to get back to spending the bulk of my day managing client assets. I look forward to a mutually supportive partnership with Gibson Smith and his team; they have delivered excellent results across their strategies, which deserve more attention.”

Weil says that Gross “has an exemplary track record with decades of success, and he will offer an exceptional approach to navigating today's increasingly risky markets with a focus on macro, unconstrained strategies. His involvement provides Janus a unique opportunity to offer strategies and products that are highly complementary to those already managed by our credit-based fixed-income team. With Bill leading our global and macro efforts and Gibson our credit-based fixed-income team, I am confident Janus will be able to meet the needs of virtually any client.”

GlobeSt.com will continue to update this story as more information becomes available.