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Gross Calls El-Erian Pimco ‘Heir Apparent’

El-Erian: no plans for Egyptian post

Speculation about the Bill Gross’ retirement is nothing new, and the “Bond King” at Newport Beach-based Pacific Investment Management Co. pushed the thought along.

Gross last week referred to Mohamed El-Erian as “my heir-apparent” in an interview with The New York Times.

El-Erian, 53, is chief executive and co-chief investment officer of Pimco with Gross, 68.

El-Erian oversees investment policies and strategies for the firm, the largest bond fund manager in the world with $1.8 trillion in assets.

He reportedly made $100 million last year, according to the Times, and looks to be headed for our annual OC’s Wealthiest list at some point in the future (see this year’s entries, starting on page 31; the list, starting on page 44; related stories throughout issue).

El-Erian has increasingly become the face of Pimco through his television appearances and contributions to newspapers. He also was in the spotlight recently after an Egyptian newspaper reported that he was a potential candidate for prime minister in the Middle Eastern country.

El-Erian, whose parents came to the U.S. from Egypt, said he has not been approached about the prime minister’s post there.

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