William H. Gross, who built Pimco into one of the largest money managers in the world and has been called “the bond king,” has quit the firm he founded and will join Janus Capital. The surprising departure follows months of questions about his leadership style and his funds’ performance as investors pulled money out of Pimco. In addition, the Securities and Exchange Commission has begun an inquiry into whether a $3.6 billion exchange traded fund actively managed by Mr. Gross inflated its performance numbers. At Janus, Mr. Gross will manage a recently started Janus Global Unconstrained Bond Fund and related ... (full story)