Monday, July 23, 2018

Pimco Executive Resigns After Allegations of Inappropriate Behavior

A senior Pacific Investment Management Co. executive resigned on Friday after facing allegations he acted inappropriately toward a colleague, reports The Wall Street Journal.

Bill De Leon, head of portfolio risk management and a managing director at the Newport Beach, Calif. bond firm, stepped down following a weeklong internal investigation into his alleged behavior at a May 2017 charity event in New York. While the gathering wasn’t a Pimco event, it was attended by several employees of the firm.

At the event,  De Leon allegedly touched inappropriately a lower-ranking Pimco employee.

It is unclear if he denied the allegations to the firm on Friday.

Notes the Journal,  De Leon held a critical position at Pimco, overseeing risk controls at a firm with more than $1.7 trillion in assets.