Chief Investment Officer Of Pimco Earns $200 Million Annually

[cali]

Pimco trustee assails exec's salary


A longtime trustee for Newport Beach's $1.9-trillion Pimco funds lashed out at the reported $200-million annual salary of Bill Gross, the billionaire bond guru who co-founded the giant money manager in 1971 and remains its chief investment officer.

"You could hire 2,000 schoolteachers for that money," said William J. Popejoy, a former financial executive who has been a Pacific Investment Management Co. trustee for 23 years. "I don't know what Bill should be paid, but $200 million is not appropriate."

The remarks, in an interview with The Times, are the latest challenge to Gross, 69, whose reputation as the world's savviest bond investor was tarnished recently by disappointing results at Pimco's core investment vehicle, the Total Return Fund, which Gross personally manages.

The Total Return Fund, with $237 billion in assets, had previously outperformed comparable bond funds for many years, prompting Morningstar Inc. to name Gross the fixed-income manager of the decade in 2010.

http://www.latimes.com/business/la-fi-pimco-gross-pay-20140311,0,7467660.story#ixzz2vf1218Yw

[Hoyt]

1. I don't care how much these guys make, as long as they are taxed accordingly to

hire/pay those teachers, fund food stamps, jobs programs, etc.

[earthside]

2. Ridiculous.

I am 57 years old ... my wife and I could retire now and live the rest of our lives rather comfortably on 1/200th of Gross's annual salary.

(I'd invest the money, but not in the underperforming Pimco Total Return Fund!)

Tell me there isn't something terribly out of wack in this country.

[jsr]

3. Because he works a million times harder