Mohamed El-Erian, widely viewed as the successor to Pacific Investment Management Co.’s Bill Gross, resigned after six years as the firm struggles to stem record redemptions from the world’s largest bond fund.
When Mohamed El-Erian first told Bill Gross several weeks ago that he wanted to leave to “recharge the batteries,” the co-founder of Pacific Investment Management Co. was ``shocked'' and ``discouraged.''
Cambridge University, the 800-year- old alma mater of Isaac Newton and Stephen Hawking, sold its first bonds, tapping investor demand that let Portugal Telecom SGPS SA issue its first benchmark notes since 2011.
Kosmos Energy Ltd., the oil wildcatter behind one of the biggest West African discoveries in a decade, is hiring BP Plc’s former head of exploration to lead the company as it ramps up its search for the next billion- barrel field.
Manchester Airports Group plans to pitch its London Stansted low-cost hub to a host of long-haul carriers over the next 18 months in a bid to broaden the appeal of an asset that spurred first-half earnings 78 percent.