Star Investor El-Erian To Resign As Pimco CEO

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One of the world's most closely watched investors is leaving Pimco as part of a series of leadership changes at the giant money manager. Mohamed El-Erian will leave Pacific Investment Management Co. in mid-March, according to the company's parent, Allianz. El-Erian is Pimco's CEO and, along with famed investor William Gross, is co-chief investment officer. Chief Operating Officer Douglas Hodge will become CEO, and Pimco founder Gross will stay as chief investment officer, Pimco said.

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