Nov. 14 (Bloomberg) — Pacific Investment Management Co. paid its former Chief Investment Officer Bill Gross a bonus of about $290 million in 2013, a year in which his Total Return Fund trailed a majority of peers, according to documents provided to Bloomberg View by someone with knowledge of Pimco's bonus policies.
Mohamed El-Erian, 56, the former chief executive officer who previously shared the title of CIO with Gross, received a 2013 bonus of about $230 million, according to figures first reported today by Bloomberg View columnist Barry Ritholtz.
By comparison, Laurence D. Fink, CEO of BlackRock Inc., the world's biggest money manager, received $22.9 million in 2013 compensation, and Michael Diekmann, CEO of Pimco's parent Allianz SE, was paid 7.2 million euros ($8.99 million), regulatory filings show.
The figures provide a rare glimpse of how some executives were paid at Pimco, even as performance at the firm's main fund stumbled and clients started to pull out. The bonus for Gross, 70, was rivaled only by a small group of billionaire money managers such as Apollo Global Management LLC's Leon Black and Blackstone Group LP chief Steve Schwarzman.
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