Bill Gross Flees PIMCO for Janus. PR issues continue for PIMCO

So Bill Gross is "fleeing" PIMCO for Janus. Several articles including The Wall Street Journal, Bloomberg and Business Insider already reported the news.

The coverage so far describes Gross' new role and why he made the move.

He wanted to focus on money management and give up "many of the complexities that go with managing a large, complicated organization,” according to the Janus version of the press release.

Ouch, I'm surprised he took a shot at the firm he co-founded.

Was PIMCO caught off guard?  Will this news cause even more redemptions. Does Gross have plans to take clients with him?

The PIMCO public relations team has their work cut out for them today. 

Who will now manage the strategies? Will processes change? Will complexities of running a large organization, as Gross mentioned, be simplified?

So far, I haven't read their side of the story. 

This may just the beginning. Smaller boutique bond funds may have opportunities for growth with money in motion.

Stay tuned.