Mr. Gross’s complaint took aim at those in line to succeed him, including Mr. Ivascyn, who the suit claimed threatened to resign if Mr.<br />Performance in the new fund fared better than most of its peers in 2015 and 2016, including the similar fund at Pimco, co-managed by Mr. Ivascyn.<br />Gross as a defender of low-fee investment products, Pimco’s traditional focus, while Mr. El-Erian<br />and Mr. Ivascyn pushed to take on more risk in higher-fee products in the interest of bigger bonuses.<br />Mr. El-Erian has served as chief economic adviser to Pimco’s parent company, the German insurer Allianz, since he left in March 2014.<br />Gross would be named a “director emeritus.”<br />“Bill Gross has always been larger than life,” Dan Ivascyn, Pimco’s chief investment officer, said in the statement.<br />“Pimco has moved forward since Mr. Gross’s resignation,” the firm said in 2015.
