Pimco denies a Bloomberg View report that co-founder Bill Gross earned $290 million as his year-end bonus in 2013.
Bloomberg said its report came from documents provided by an individual with knowledge of the company’s bonus policies. Gross now manages bond funds at Janus Capital Group.
Read More Pimco: ‘Bonds aremeant to be boring’
The report said former co-CEO Mohamed El-Erian took in $230 million at the end of 2013.
Bonuses for other Pimco executives ranged from $22 million to $70 million, according to the report.
Some of the previous estimates put average executive compensation at $7 million to $33 million per year, Bloomberg View reported.
Pimco denied the report.
“While PIMCO does not comment on compensation, the figures provided to Bloomberg are not correct,” the firm said in a statement. “For more than three decades, PIMCO’s Managing Directors have maintained a substantial interest in the firm, currently 30% of profits and this provides an important means to attract and retain the best investment talent to serve our clients.”
Bloomberg told CNBC, “We stand by our reporting.”
Read the full story from Bloomberg View here.