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Bill Gross, founder and chief investment officer of Pacific Investment Management Co., will leave the Newport Beach-based company to join Janus Capital Group.

Gross will join Denver-based Janus Monday, and will work from an office that will be set up in Newport Beach, according to Janus.

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His duties at Janus will include the recently launched Janus Global Unconstrained Bond Fund and work on Janus’ global asset allocation.

Pimco Chief Executive Douglas Hodge in a statement expressed gratitude for Gross’ service but noted “fundamental differences” between Gross and other leaders.

Gross said he wants to re-focus on “fixed income markets and investing” instead of running a large organization. Pimco has nearly $2 trillion in assets. Janus has about $178 billion.

Janus Chief Executive Richard Weil previously served as chief operating officer at Pimco.

Shares of publicly traded Janus were up about 30% in early trading to a market cap of $2.64 billion. Shares of Pimco parent company Allianz were down about 6% to a market cap of around $58.3 billion.